Perth Theatre Trust Annual Report 2013 - 2014€¦ · The Trust venues are managed on behalf of the...
Transcript of Perth Theatre Trust Annual Report 2013 - 2014€¦ · The Trust venues are managed on behalf of the...
Annual Report2013 | 2014
Perth Theatre TrustGordon Stephenson House140 William Street, Perth WA 6000Postal address: PO Box 8349Perth Business Centre, WA 6849Ph: (08) 6552 7553Fax: (08) 6552 7501Website: www.ptt.wa.gov.auEmail: [email protected]
His Majesty’s Theatre825 Hay StreetPerth, Western Australia 6000Ph: (08) 9265 0900Fax: (08) 9321 5142Website: www.hismajestystheatre.com.au
Perth Concert Hall5 St George’s TerracePerth, WA 6000Postal address: PO Box Y3056East St George’s TerracePerth, WA 6832Ph: (08) 9231 9900Fax: (08) 9325 1283Website: www.perthconcerthall.com.au
State Theatre Centre of Western Australia174 -176 William StreetPerth, WA 6000Ph: (08) 6212 9200Fax: (08) 6212 9207Website: www.statetheatrecentrewa.com.au
Subiaco Arts Centre180 Hamersley RoadSubiaco, WA 6008Ph: (08) 9382 3000Fax: (08) 9382 2245Website: www.subiacoartscentre.com.au
Albany Entertainment Centre2 Toll Place (off Princess Royal Drive)Albany, WA 6330Ph: (08) 9844 5000Fax: (08) 9844 5055Box Office: (08) 9844 5005Website: www.albanyentertainment.com.au
Perth Theatre Trust
Contents Letter of Transmission .................................................................................................. 2Year in summary .................................................................................... 3Chairman’s report ........................................................................................................ 4General Manager’s report ............................................................................................. 5Perth Theatre Trust statistical summary ......................................................................... 6Overview of the agency ......................................................................... 7Operational structure .................................................................................................... 8Organisational chart ................................................................................................... 13Performance Management Framework - Achieving Government goals ........................... 14Agency performance ........................................................................... 15Agency performance against strategic goals ................................................................ 16Events with Perth Theatre Trust involvement ................................................................ 17Venue Management reports ........................................................................................ 19
AEG Ogden (Perth) Pty Ltd ................................................................................... 20Perth Concert Hall ............................................................................................... 21His Majesty’s Theatre .......................................................................................... 24Subiaco Arts Centre ............................................................................................ 27State Theatre Centre of Western Australia ............................................................. 30Albany Entertainment Centre ............................................................................... 34Museum of Performing Arts ................................................................................. 37
Significant issues impacting the agency ........................................... 38Disclosures and legal compliance ...................................................... 40Ministerial directives .................................................................................................. 41Other financial disclosures .......................................................................................... 41Governance disclosures ............................................................................................. 41Board and committee remuneration ............................................................................ 42Other legal requirements ............................................................................................ 43Government policy requirements ................................................................................. 45Auditor General’s opinion .................................................................... 47Certification of performance indicators ............................................. 50Performance indicators ....................................................................... 51Certification of financial statements .................................................. 55Financial statements ........................................................................... 56
Letter of TransmissionIn accordance with Section 61 of the Financial Management Act 2006, we hereby submit for your information and presentation to Parliament, the Annual Report of the Perth Theatre Trust for the financial year ended 30 June 2014.
The Annual Report has been prepared in accordance with the provisions of the Financial Management Act 2006.
The Hon. Peter BlaxellChairman
4 Septemeber 2014
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Year in summary
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Chairman’s reportThe past year saw an important decision by the State Government to implement a revised future management model for venues operated by Perth Theatre Trust. Under the new system the present totally outsourced model will be replaced with direct management by the Trust (other than for food and beverage services which will be put out to tender).
These new arrangements will take effect on 1 January 2015, and in the meantime AEG Ogden (Perth) Pty Ltd (AEGOP) will continue to be manager. AEGOP has been the custodian of our venues for more than 15 years, and during that period has played a significant role in fostering local performing arts. On behalf of the Perth Theatre Trust I acknowledge and thank General Manager Rodney Phillips and all of his staff (past and present) for the valuable contributions they have made to the performing arts sector in this State.
I also extend a warm welcome to the great majority of present staff who will continue at our venues under the new management system. Perth Theatre Trust will be relying on their skills in helping to achieve optimum use of our venues in accordance with the following public interest objectives:
1. Quality and variety of programming across all genres to the widest possible audiences.
2. Value for money for the theatre going public.
3. Support for, and development of, the local performing arts sector.
4. Maximum value to taxpayers for each subsidy dollar.
The new venue management system will also result in a more direct relationship between Perth Theatre Trust and each of its stakeholders. This will provide the opportunity for us to work cooperatively with all elements of the local performing arts industry for the mutual benefit of all. In this regard we believe that our stakeholders’ objectives are just as important as our own, and that a collaborative approach will be likely to produce much better outcomes.
I thank all of Perth Theatre Trust’s staff who are working very hard on the transition project under the leadership of Acting General Manager Rudi Gracias. I also thank all of my fellow Board members for their dedication and commitment. I particularly thank retiring Board member Helen Cook for her valuable input. We will miss her strategic focus and her clear eyed insights into the things that really matter.
Finally, I pay tribute to Alan Ferris who is departing Perth Theatre Trust after lengthy service including six years as its General Manager. I speak for all staff and Board members in wishing Alan well for his future career in the higher levels of the Public Service. He can be proud of his legacy which is a Perth Theatre Trust in good shape with great confidence in its future.
The Hon. Peter Blaxell Chairman
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General Manager’s reportThis year has been characterised by significant changes and challenges for the Perth Theatre Trust.
In April 2014, the Minister for Culture and the Arts, Hon. John Day MLA, announced that from 1 January 2015, the Trust would directly manage the venues currently under its control. The State Government’s decision was informed by work undertaken by the Trust and a consultant’s report. A transition team has been formed to work on the changeover process.
A further announcement made by the State Government this year was that Perth Theatre Trust would continue to manage the Albany Entertainment Centre for an additional year until 30 June 2015. The Trust will continue to work with the City of Albany on the long term management options for the venue.
In relation to programming, the Trust has continued to invest in a range of diverse productions across its venues to fill gaps between resident company bookings. I am also pleased to report on the number of events and attendances at Trust venues during the year. The Perth Concert Hall and the State Theatre Centre of WA both enjoyed increased attendances in 2013/14, while His Majesty’s Theatre had increased events from 157 in 2012/13 to 227 in 2013/14. A highlight this year was the Australian premiere of the Royal Concertgebouw Orchestra, with 2609 patrons attending two performances at the Perth Concert Hall. Other highlights included the inaugural Independent Theatre Festival at the Subiaco Arts Centre and performances by Circus Oz, Sydney Dance Company’s ‘2 One Another’ at His Majesty’s and Albany Entertainment Centre and the Australian Dance Theatre’s ‘G’ at the State Theatre Centre.
Perth Theatre Trust continued to support community events such as the Performing Arts Perspectives at His Majesty’s Theatre, which showcases outstanding performances by Year 11 and 12 Performing Arts students, and seasons of Morning Melodies and Cabaret Soiree at Downstairs at the Maj.
A development during the year was the activation of 192 William Street, Northbridge, on a short term basis. The premises have been leased to Propel Youth Arts WA until December 2014.
A priority for Perth Theatre Trust is the ongoing maintenance and improvement of our venues and we continue to work with the Department of Culture and the Arts and key agencies to progress our case for increased funding.
Looking ahead, the Trust has some challenges to face but also much to be excited about. New staff will be joining us on the journey as we look at new ways of working smarter, building our brand, engaging with the local performing arts sector and, importantly, keeping our venues active and enhancing the cultural lives of West Australians. We have already started this process and have met with our resident companies, as we work to build and enhance our relationships with them and other key stakeholders.
I would like to take this opportunity to thank the Perth Theatre Trust Board and staff for their significant contribution and achievements over the past year.
Importantly, I would also like to take this opportunity to thank AEG Ogden (Perth) who have managed the Perth Theatre Trust venues over the past 15 years.
Rudi Gracias A/General Manager
Perth Theatre Trust statistical summaryOperating Expenditure: $27.9 millionRevenue: $14.9 millionFunding from State Government: $15.1 million
Employees Perth Theatre Trust employed the equivalent of 5.84 full time employees:
4 Full-time
3 Part-time
Venue manager AEG Ogden (Perth) employed:67 Full-time employees
14 Part-time employees
151 Casual employees
Total employees: 232
Venues managed: ▪ Perth Concert Hall
▪ His Majesty’s Theatre
▪ Subiaco Arts Centre
▪ State Theatre Centre of Western Australia
▪ Albany Entertainment Centre
Total number of performances or events at Trust venues in 2013/14: 1,121Total number of attendances at Trust venues in 2013/14: 512,212
Venue statistics: ▪ Perth Concert Hall
170 events, attended by 199,789 patrons
▪ His Majesty’s Theatre 227 events attended by 122,947 patrons
▪ Subiaco Arts Centre 173 events attended by 28,116 patrons
▪ State Theatre Centre of Western Australia 402 events attended by 125,201 patrons
▪ Albany Entertainment Centre 149 events attended by 36,159 patrons6
Events
15% 13% Perth Concert Hall
His Majesty’s Theatre20%
16%36%
Subiaco Arts Centre
State Theatre Centre of Western Australia
Albany Entertainment Centre
Attendance
39% 7%
Perth Concert Hall
His Majesty’s Theatre
24%
24%6%Subiaco Arts Centre
State Theatre Centre of Western Australia
Albany Entertainment Centre
Overview of the agencyOperating Expenditure: $27.9 millionRevenue: $14.9 millionFunding from State Government: $15.1 million
Employees Perth Theatre Trust employed the equivalent of 5.84 full time employees:
4 Full-time
3 Part-time
Venue manager AEG Ogden (Perth) employed:67 Full-time employees
14 Part-time employees
151 Casual employees
Total employees: 232
Venues managed: ▪ Perth Concert Hall
▪ His Majesty’s Theatre
▪ Subiaco Arts Centre
▪ State Theatre Centre of Western Australia
▪ Albany Entertainment Centre
Total number of performances or events at Trust venues in 2013/14: 1,121Total number of attendances at Trust venues in 2013/14: 512,212
Venue statistics: ▪ Perth Concert Hall
170 events, attended by 199,789 patrons
▪ His Majesty’s Theatre 227 events attended by 122,947 patrons
▪ Subiaco Arts Centre 173 events attended by 28,116 patrons
▪ State Theatre Centre of Western Australia 402 events attended by 125,201 patrons
▪ Albany Entertainment Centre 149 events attended by 36,159 patrons 7 Attendance
Perth Concert Hall
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Operational structureThe Perth Theatre Trust is responsible for the care, control, management, maintenance, operation and improvement of theatres under its control. The venues currently under the control of the Trust are:
▪ Perth Concert Hall (leased from the City of Perth)
▪ His Majesty’s Theatre (Government owned)
▪ Subiaco Arts Centre (leased from the City of Subiaco)
▪ State Theatre Centre of Western Australia (Government owned)
▪ Albany Entertainment Centre (Government owned).
The Trust venues are managed on behalf of the Trust by AEG Ogden (Perth) Pty Ltd through a management agreement. This agreement ends on 31 December 2014.
The Trust’s venues are used by local, national and international performing arts companies, performers and artists, both professional and amateur. School and children’s performances and activities are also presented at these venues. Funded arts organisations presenting regular seasons in Trust venues include the Barking Gecko Theatre Company, Black Swan State Theatre Company, Perth Theatre Company, West Australian Ballet, West Australian Opera, West Australian Symphony Orchestra as well as the Perth International Arts Festival.
The Trust supports the presentation or co-production of some events in its theatres and provides a range of theatre-related services to customers and hirers through its venue managers AEG Ogden (Perth). These services include the management of the ticketing services agreement with Ticketek Pty Ltd and the box offices at the venues; food and beverage operations; and the Museum of Performing Arts at His Majesty’s Theatre.
The Trust operates in the Culture and Arts Portfolio. The Department of Culture and the Arts provides corporate support to the Trust, including human resources, financial and information system support.
The Trust’s current strategic plan is Showtime 2009-2014.
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Enabling legislation
The Perth Theatre Trust is a statutory authority established and constituted under the Perth Theatre Trust Act 1979, to manage and operate theatres vested in or leased to it.
Responsible Minister
The Hon. John Day MLA Minister for Culture and the Arts.
Organisational structureBoard of TrusteesRole and operationsThe Board consists of eight members appointed by the Governor under Section 5 of the Perth Theatre Trust Act 1979. Of these eight members, four are nominated by the Minister for Culture and the Arts, three are nominated by the City of Perth and an ex-officio position is held by the Director General of the Department of Culture and the Arts. Board meetings are held on a bi-monthly basis with sub-committees for programming, finance and audit and risk management convened throughout the year.
The Hon. Peter Blaxell, Chair(Appointed January 2013)
The Hon. Peter Blaxell graduated with a Bachelor of Laws from The University of Western Australia (UWA) in 1967. He was an articled Clerk then Solicitor and Partner at Lavan & Walsh from 1967 to 1974.
He was Coordinator of the Law Society’s Legal Assistance Scheme from 1974 - 1975 and established the Kununurra office of the Aboriginal Legal Service in 1975. He joined the Independent Bar in 1975 practising solely as a Barrister until 1991. He was a Judge of the District Court of WA from 1991 to 2005, and for several years was Judge in charge of the Civil List.
Judge Blaxell was appointed to the Supreme Court of WA in 2005, and in 2007 became Judge in charge of the Criminal List. He retired from the Bench in 2011.
He was an inaugural Trustee of the Special Air Service Resources Trust in 1996 and replaced Hon. David Malcolm AC QC as Chairman in 2010. Currently, he also holds positions as Chair of the Independent Media Council and of the Board of Trustees of the Fremantle Sailing Club.
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Max Kay AM CitWA(Appointed April 2011)
Max Kay arrived in Perth from Scotland in 1967 and opened the Civic Theatre Restaurant where he wrote, produced and performed in his own shows.
Max writes comedy scripts, radio and television commercials and is a lifelong member of Equity and the Music Arrangers Guild of Australia.
He was awarded Citizen of the Year for the Arts Culture and Entertainment category in 2001 and in 2003 he was awarded an Order of Australia (AM) for his work in many charities and community projects.
He is the President of the National Trust (WA), and a Board Member of St Bartholomew’s Foundation for the Homeless, the Swan Bells Foundation, the Royal Perth Hospital Heritage Society Inc, and Curtin Radio 100.1 FM. He is also Chairman of the Council of the Sir David Brand School and Patron of Camp Quality, Midnite Youth Theatre Company and The Gilbert and Sullivan Society.
Helen Cook(Appointed April 2011)
Helen Cook has been closely involved in WA arts and culture for the past 12 years holding various board positions in the sector including Chair of the Art Gallery of WA from 2006 to 2010 (Board member from 2004-10), board and founding role of the Chamber of Arts and Culture WA since 2010, Panel Member of the Performing Arts Panel of the Australia Council from September 2013 and Board member of Future Now, the Creative and Leisure Industries Training Council. She is a past Council member of the Friends of the Perth International Arts Festival and the Heart Foundation of WA.
In addition to her current arts roles, Helen currently sits on the Board of RACWA Holdings Pty Ltd, RAC Finance Ltd, the Minerals Research Institute of WA and the UWA Mining Energy and Natural Resources Law Advisory Board.
Helen has over 25 years commercial experience commencing with Arthur Andersen in 1989 and Corrs Chambers Westgarth in 1993. In 1997 she commenced with KPMG and began specialising in commercial and market development in the energy and resources industry. She was appointed National Partner, KPMG’s Energy and Natural Resources Group in 2008 until her retirement from the partnership in December 2013.
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Morgan Solomon(Appointed January 2013)
A partner at Perth law firm BBV heading up the Commercial and Estates team, Morgan is a well-established lawyer with many years’ experience in commercial, business and litigation.
A third generation West Australian lawyer he has a passion for the arts having completed his honours thesis in Fine Art at UWA in 1994 prior to his study and career in law.
Morgan has been a member of the FORM Board for six years, sits on the Board of the Prostate Cancer Foundation (WA), and is a member of several arts organisations, including the Chamber of Arts and Culture WA, of which he is a founding member.
He has worked as legal adviser for the Save the Children Fund and the Black Swan Art Prize and was a member of KPMG AdviceBank legal team for the Australian Business and the Arts. Morgan currently holds the position of Chairman of Law Australasia.
Cr Jim Adamos(Appointed January 2012)
Jim Adamos was elected to the City of Perth as a Councillor in October 2011.
Cr Adamos has been a long-term resident of the city. He is married with two young children and has worked and owned businesses in the city for over 25 years. Cr Adamos is a member of the Council’s Marketing, Sponsorship, International Relations and Employment committees and an alternate member of the Perth Development Assessment Panel.
He is was also a Councillor of Tamala Park Regional Council and was previously a Board Member of the Perth Convention Bureau.
Deputy Lord Mayor Cr Rob Butler(Appointed September 2003)
Rob Butler has 20 years of local government experience both as a Councillor and former Deputy Mayor, City of Subiaco.
He is currently WA Executive Director of three successful manufacturing and supply companies servicing the mining, oil, gas and general engineering industries throughout Australia.
Cr Butler was a former Director of the Hole in the Wall Theatre and the WA State Theatre Company. He was elected to the City of Perth in May 2003. He is Chairman of the City of Perth Planning Committee, and a member of the Audit and Finance Committee.
Cr Butler is an active member on many Boards including, Perth Local Chambers, and the WA Local Government representative Central Zone for the City of Perth.
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Cr Janet Davidson OAM JP(Appointed January 2008)
Janet Davidson holds a Master’s Degree in Management from UWA, a GAICD (Graduate of the Australian Institute of Company Directors) and is also a trained teacher. Janet is a member of the Australian Institute of Management and Australian Institute of Company Directors. She is a Justice of the Peace and an Ambassador for the Year of the Outback.
Cr Davidson was elected to the City of Perth in 1998 and Chairs the Finance and Budget Committee and Audit Committee. She was elected Deputy Lord Mayor in 2011 and also held the position in 2009. She is also the Executive Officer to the WA Regional Office/Committee of the Royal Australian and New Zealand College of Obstetricians and Gynaecologists.
Her membership includes: Library Board of WA (former Chairman), the Australia Day Council of WA, Local Chambers Perth City Executive Committee and WA Local Government Association State Councillor. Cr Davidson is a Board Member (previous National Vice President) for Australian Local Government Women’s Association and sits on the Australian Local Government Association Board as the ALGWA representative.
Alan Ferris (Ex Officio)
Alan Ferris was the Acting Director General, Department of Culture and the Arts (DCA). He had been the General Manager, Perth Theatre Trust, between 2008 and 2013.
Prior to this he was Chief Financial Officer DCA, a role which also had responsibility for the Art Gallery of WA, Perth Theatre Trust, ScreenWest, State Library of WA, State Records Office and the WA Museum.
Alan has been a Trustee of the Swan Bells Foundation and also held the position of the Mayor of the Town, East Fremantle for six years. He is a board member of the Palmerston Association and a member of the Leadership WA Finance Committee.
Changes to Board membersHelen Cook (April 2011 - 3 June 2014) - Trustee Alan Ferris (May 2013 - 30 June 2014) - Ex Officio
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Director General Department of Culture
and the Arts
Perth Theatre Trust Board of Trustees
Perth Theatre Trust General Manager
Executive Assistant
Corporate Affairs Officer
Chief Operating Officer
Contracts Mgt. Accountant/Analyst
Project Officer
Minister for Culture and the Arts
Organisational chart
Performance Management Framework - Achieving Government goalsThe Culture and Arts Portfolio (which includes the Trust) achieves its Government Desired Outcomes through the delivery of seven key services. While the Portfolio contributes to all of the Government’s Results Based Service Delivery goals, its primary contribution is to the Government Goal: Greater focus on achieving results in key service delivery areas for the benefit of all Western Australians.
The figure below illustrates the relationship between the Portfolio’s Desired Outcomes and the most relevant Government goal.
Government goal Desired outcomes Services
Greater focus on achieving results in key service areas for the benefit of all Western Australians
Outcome 1
A creative, sustainable and accessible culture and arts sector
∙ Arts industry support
∙ Screen production industry support
∙ Venue management services
Outcome 2
Western Australia’s natural, cultural and documentary collections are preserved, accessible and sustainable
∙ Art Gallery services
∙ Library and information services
∙Museum services
∙ Government recordkeeping and archival services
The Trust’s venue management services contribute to Desired Outcome 1 of the Portfolio’s Government Desired Outcomes: A creative, sustainable and accessible culture and arts sector.
The Trust’s provision of theatres and programming events provides the community with access to cultural experiences and the opportunity to enhance the cultural and economic life of WA.
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Agency performance
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Agency performance against strategic goalsThe Trust’s five-year strategic plan, Showtime, concludes at the end of 2014. Progress against the strategic goals in 2013/14 were:
Strategic Objective 1: Recognition as an Australian leader in arts and entertainmentAchievements against this strategic objective during the reporting year included:
▪ The review of the venue management arrangement and all venue operations and the State Government’s decision to bring Trust venue management under the direct management of PTT.
▪ Support for national tours and performances at Trust venues including Sydney Dance Company, Circus Oz and Bell Shakespeare.
Strategic Objective 2: Optimising the usage of venues and services for the benefit of the whole communityAchievements against this objective during the reporting year included:
▪ The Trust supported a number of events designed to build audiences and engage with the community including Performing Arts Perspectives, Majkidz and Morning Melodies.
▪ The tenancy at 192 William Street (State Theatre Centre of WA) has been leased to Propel Youth Arts WA until December 2014.
▪ The inaugural Independent Theatre Festival was launched at the Subiaco Arts Centre.
▪ Inclusion of PTT assets into the Department of Culture and the Arts business case for increased investment by the State Government.
Strategic Objective 3: Excellence and continuous improvement in customer service and managementAchievements against this objective during the reporting year included:
▪ Risk management planning enacted across all PTT venues.
▪ The successful trial of online subscriptions for WA Opera.
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Events with Perth Theatre Trust involvementThe Perth Theatre Trust continued its programming activities in 2013/14. These activities provide:
▪ cultural, arts and entertainment benefits;
▪ educational benefits;
▪ general community development in terms of social and economic benefits and quality of life and professional industry employment opportunities;
▪ artistic and creative development; and
▪ outcomes which evidence leadership in artistic development.
Date Event/show Producer Perfromances AttendancePerth Concert Hall
21 – 22 November 2013 Royal Concertgebouw Orchestra PCH 2 2,609
His Majesty’s Theatre
21 August 2013 – 25 June 2014 Morning Melodies HMT 5 3,851
28 – 31 August 2013 From the Ground Up Circus Oz 7 4,889
15 August – 5 October 2013 Cabaret Soiree HMT 26 2,973
18 – 21 June 2014 2 One Another Sydney Dance Company 5 3,476
State Theatre Centre of WA
4 – 7 July 2013 G Australian Dance Theatre 4 2,128
Albany Entertainment Centre
9 August 2013 The Comedy Of Errors Bell Shakespeare Company 1 490
23 August 2013 Cranked Up Circus Oz 2 1,047
30 August 2013 Happy as Larry Shaun Parker & Company 1 328
5 – 6 September 2013 Don Giovanni Oz Opera 2 425
28 June 2014 2 One Another Sydney Dance Company 1 558
Subiaco Arts Centre
12 March –12 April 2014 Independent Theatre Festival SAC and Classic Works, Brooke Linton and
Louise, Stained Glass Theatre, Weeping
Spoon Productions, Houston Sinclair
20 1,064
Total 76 23,838
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Performance diversityThe following table represents the diversity of performances presented in Trust venues, as a percentage of total performances. The Trust’s aim is to promote a diverse and varied program of events to WA audiences.
2013
- 2
014
No.
of
Perf
orm
ance
s
2013
-201
4
% o
f Tot
al P
erfo
rman
ces
2012
-201
3
No.
of P
erfo
rman
ces
2012
-201
3
% o
f Tot
al P
erfo
rman
ces
2011
-201
2
No.
of P
erfo
rman
ces
2011
-201
2
% o
f Tot
al P
erfo
rman
ces
2010
-201
1
No.
of P
erfo
rman
ces
2010
-201
1
% o
f Tot
al P
erfo
rman
ces
2009
-201
0
No.
of P
erfo
rman
ces
2009
-201
0
% o
f Tot
al P
erfo
rman
ces
2008
-200
9
No.
of P
erfo
rman
ces
2008
-200
9
% o
f Tot
al P
erfo
rman
ces
Ballet/Dance 115 10% 105 9% 80 7% 45 5% 65 7% 79 8%
Children’s/Youth Performances
136 12% 105 9% 160 14% 82 9% 119 13% 113 12%
Classical Music 108 10% 99 9% 91 8% 88 10% 68 7% 71 7%
Comedy 107 10% 50 4% 87 8% 32 4% 49 5% 105 11%
Rock, Pop, Jazz, Folk 86 8% 117 10% 127 11% 58 7% 49 5% 42 4%
Conferences/Meetings 65 6% 43 4% 55 5% 15 2% 9 1% 17 2%
Dance Schools 4 0% 6 1% 3 0% 3 0% 1 0% 3 1%
Theatre 335 30% 435 38% 385 34% 286 32% 337 37% 352 37%
Musical Theatre 38 3% 70 6% 45 4% 172 19% 123 14% 82 9%
Opera 23 2% 28 2% 33 3% 25 3% 28 3% 25 3%
Other 65 6% 50 4% 42 4% 26 3% 11 1% 14 1%
Religious Meetings 1 0% 0 0% 0 0% 0 0% 0 0% 0 0%
Schools’ Performances 12 1% 13 1% 10 1% 19 2% 20 2% 14 1%
Education/Academic/ Graduation events
24 2% 23 2% 18 2% 25 3% 19 2% 22 2%
Community Concerts 2 0% 2 0% 2 0% 7 1% 12 1% 17 2%
Total 1,121 100% 1,146 100% 1,138 100% 883 100% 910 100% 956 100%
Note 1: ‘Other’ includes non-categorised events held on main stages and other venue spaces.Note 2: Event percentages rounded to nearest whole number.
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Venue Management reports
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AEG Ogden (Perth) Pty Ltd
As agent for the Perth Theatre Trust, AEG Ogden (Perth) Pty Ltd manages the Perth Concert Hall, His Majesty’s Theatre, the Subiaco Arts Centre, the State Theatre Centre of Western Australia and the Albany Entertainment Centre. The management contract ends on 31 December 2014.
Ticketing operationsThe 2013/2014 year saw the continuation of the contractual relationship between AEG Ogden (Perth) and ticketing service provider Ticketek Pty Ltd. The ticketing operation continued to build on past successes and developed procedures to provide excellent customer service, both to patrons and hirers.
During the financial year, more than 320,000 tickets were sold through Ticketek to events at Perth Theatre Trust venues. Subscription sales for the resident companies were particularly strong, with the ability to sell subscriptions online trialled successfully for the first time for WA Opera.
Regular meetings between the Ticketing operations team and Ticketek staff have provided the platform to introduce new procedures and features of the ticketing system. The ability to upsell food and beverage packages during the ticket purchase process, introduced towards the end of the 2012/2013 period, was strengthened and grew successfully during the year.
Food and beverageFood and beverage services are provided at each of the Trust’s venues.
Some of the highlights in 2013/14 included the launch of the 2014 Perth International Arts Festival at Perth Concert Hall in November 2013 and the IGA 2014 Taste of the Great Southern Food and Wine Festival launch at the Albany Entertainment Centre and the State Theatre Centre.
At the 2013 Restaurant and Catering Australia Awards for Excellence (WA) held in August, the Food and Beverage Division were finalists in four categories and Individual awards were awarded to two employees. In addition, the Food and Beverage Division also reached finalist status for the 2013 Catering Institute Gold Plate Awards in the Venue Caterer of the Year Category.
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Perth Concert Hall
The Perth Concert Hall (which opened in 1973) is a 1,729-seat purpose built concert hall owned by the City of Perth and leased to the Trust since 1980. Acoustically, the heritage listed building is considered one of the best in Australia. It is the principal performing and rehearsal venue for the West Australian Symphony Orchestra and hosts other companies such as the Australian Chamber Orchestra and Musica Viva.
Venue usageA range of events were presented throughout the year with a total of 170 events in the venue attended by 199,789 patrons.
Main Spaces Usage Events Attendance
Main Auditorium 159 195,140
Wardle Room 7 1,949
Galleries and Other Spaces 4 2,700
Total 170 199,789
Venue highlights and activitiesThe Perth Concert Hall highlights and activities during 2013/14 included:
▪ The Royal Concertgebouw Orchestra of Amsterdam’s performances in November 2013. The Orchestra embarked on its premier tour of Australia with its first performances on the stage of the Perth Concert Hall.
▪ Australian Chamber Orchestra presented a number of performances throughout the year.
▪ Musica Viva celebrated its fortieth anniversary of association with the venue with numerous presentations.
▪ The Perth International Arts Festival presented the acclaimed Academy of St Martin in the Field.
▪ Contemporary, rock and pop performances by Nigel Kennedy, Steve Vai, Jeff Beck, Neil Finn, Hugh Laurie and his blues band, Joan Baez, Don McLean, Air Supply and Petula Clark.
▪ Comedians Jimmy Carr, Billy Bragg and Anh Do performed at the Perth Concert Hall, plus world artists and other performers including Paco Pena, Ute Lemper, Isabella Rossellini and Kevin McCloud.
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Perth Concert Hall
Main Auditorium
2013
-201
4
Tota
l per
form
ance
s
2013
-201
4
Tota
l atte
ndan
ce
% C
apac
ity
2012
-201
3
Tota
l per
form
ance
s
2012
-201
3
Tota
l atte
ndan
ce
% C
apac
ity
Ballet/Dance 6 4,312 42% 2 1,282 37%
Children’s/Youth Performances 4 6,318 91% 3 4,094 79%
Classical Music 85 104,894 71% 71 86,091 70%
Comedy 5 7,372 85% 9 12,387 80%
Rock, Pop, Jazz, Folk 27 31,619 68% 19 22,960 70%
Conferences/Meetings 0 0 0% 0 0 0%
Dance Schools 0 0 0% 4 4,064 59%
Theatre 1 723 42% 0 0 0%
Musical Theatre 0 0 0% 0 0 0%
Opera 1 1,612 93% 2 968 28%
Other 6 6,395 62% 2 3,322 96%
Religious Meetings 1 1,200 69% 0 0 0%
Schools’ Performances 10 12,754 74% 5 5,288 61%
Education/Academic/Graduation events 13 17,941 80% 11 16,023 84%
Total 159 195,140 71% 128 156,479 71%
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Perth Concert HallWardle Room 2013-2014
Usage2013-2014
Attendances2012-2013
Usage2012-2013
AttendancesPerformance 7 1,949 20 5,622
Other 0 0 1 79
Galleries and Other Spaces
2013-2014 Usage
2013-2014 Attendances
2012-2013 Usage
2012-2013 Attendances
Performance 3 700 24 2,000
Other 1 2,000 5 760
F&B Non-Show Related
2013-2014 Usage
2013-2014 Attendances
2012-2013 Usage
2012-2013 Attendances
PCH 67 5,436 74 6,667
24
His Majesty’s Theatre
His Majesty’s Theatre has hosted many great artists in the 110 years since its opening. It is the only Edwardian theatre still in operation in Australia and one of only two remaining His Majesty’s Theatres in the world. The venue’s main auditorium, in a traditional theatrical ‘horseshoe’ arrangement over three levels, seats 1,200 patrons.
Venue usageA range of events were presented throughout the year with a total of 227 events attended by 122,947 patrons.
Main Spaces Usage Events Attendance
Main Auditorium 151 117,376
Downstairs at the Maj 76 5,571
Dress Circle and Other 0 0
Total 227 122,947
Venue highlights and activitiesHis Majesty’s Theatre highlights and activities during 2013/14 included:
▪ The West Australian Ballet and West Australian Opera presenting their seasons at His Majesty’s Theatre along with the Perth International Arts Festival.
▪ Sydney Dance Company’s production, ‘2 One Another’, was staged at the theatre from 18-21 June 2014.
▪ Commercial productions at the venue included the St Petersburg Ballet’s season of ‘Swan Lake’, an Agatha Christie murder mystery – ‘A Murder is Announced’, and ‘Admission One Shilling’, a UK production starring British actress Patricia Routledge.
▪ His Majesty’s Theatre’s community service programs of Morning Melodies, MajKidz and Cabaret Soiree continued throughout the year.
25
His Majesty’s Theatre
Main Auditorium
2013
-201
4
Tota
l per
form
ance
s
2013
-201
4
Tota
l atte
ndan
ce
% C
apac
ity
2012
-201
3
Tota
l per
form
ance
s
2012
-201
3
Tota
l atte
ndan
ce
% C
apac
ity
Ballet/Dance 66 56,727 69% 56 41,962 60%
Children’s/Youth Performances 0 0 0% 0 0 0%
Classical Music 0 0 0% 0 0 0%
Comedy 5 5,026 81% 9 7,523 67%
Rock, Pop, Jazz, Folk 0 0 0% 0 0 0%
Conferences/Meetings 1 400 32% 0 0 0%
Dance Schools 0 0 0% 0 0 0%
Theatre 53 31,391 48% 38 41,869 89%
Musical Theatre 8 5,805 58% 5 3,879 63%
Opera 16 16,042 81% 20 21,655 87%
Other 0 0 0% 0 0 0%
Religious Meetings 0 0 0% 0 0 0%
Schools’ Performances 0 0 0% 0 0 0%
Education/Academic/Graduation events 2 1,985 80% 2 2,176 88%
Total 151 117,376 63% 130 119,064 74%
26
His Majesty’s TheatreDownstairs at the Maj
2013-2014 Usage
2013-2014 Attendances
2012-2013 Usage
2012-2013 Attendances
Performance 76 5,571 27 2,735
Other 0 0 0 0
Dress Circle Bar & Foyer
2013-2014 Usage
2013-2014 Attendances
2012-2013 Usage
2012-2013 Attendances
Performance 0 0 0 0
Other 0 0 0 0
F&B Non-Show Related
2013-2014 Usage
2013-2014 Attendances
2012-2013 Usage
2012-2013 Attendances
HMT 32 2,767 44 3,728
27
Subiaco Arts Centre
The Subiaco Arts Centre is a multi-space venue incorporating a 305-seat corner stage theatre and a 119-seat studio theatre. Four other spaces within the venue — the rehearsal room, multi-purpose room, undercroft and gallery space – are suited to a variety of community and arts-based uses. Barking Gecko Theatre Company is the resident company.
Venue usageA range of events were presented throughout the year with a total of 173 events attended by 28,116 patrons.
Main Spaces Usage Events Attendance
Main Auditorium 107 23,803
The Studio 64 4,033
Amphitheatre 2 280
Total 173 28,116
Venue highlights and activitiesSubiaco Arts Centre’s highlights and activities during 2013/14 included:
▪ The inaugural ‘Independent Theatre and Dance Festival’ was staged at the Subiaco Arts Centre from 12 March to 12 April 2014. The festival gave independent artists an opportunity to showcase their work in a professional theatre while being exposed to the wider community. Twenty-eight local artists were employed including a range of producers, actors, dancers and technicians.
▪ In August 2013, Subiaco Arts Centre was home to the comedy production ‘51 Shades of Maggie Muff’. The production returned for two subsequent seasons in September 2013 and March 2014 respectively. At the conclusion of the March season, ‘51 Shades of Maggie Muff’ had run for a total of 10 weeks and attracted 12,000 patrons to the Subiaco Arts Centre.
▪ The Perth International Arts Festival held two performances at the Subiaco Arts Centre in 2014, ‘The Curious Scrapbook of Josephine Bean’ and ‘ILO’. Both performances were aimed at children.
28
Subiaco Arts Centre
Main Auditorium
2013
-201
4
Tota
l per
form
ance
s
2013
-201
4
Tota
l atte
ndan
ce
% C
apac
ity
2012
-201
3
Tota
l per
form
ance
s
2012
-201
3
Tota
l atte
ndan
ce
% C
apac
ity
Ballet/Dance 0 0 0% 0 0 0%
Children’s/Youth Performances 16 2,680 55% 71 11,562 53%
Classical Music 1 222 73% 6 1,515 83%
Comedy 63 15,321 80% 13 2,273 57%
Rock, Pop, Jazz, Folk 10 2,099 69% 12 2,659 73%
Conferences/Meetings 1 301 99% 4 440 36%
Dance Schools 2 455 75% 0 0 0%
Theatre 2 322 53% 34 6,393 62%
Musical Theatre 11 2,101 63% 18 2,859 52%
Opera 1 302 99% 2 347 57%
Other 0 0 0% 0 0 0%
Religious Meetings 0 0 0% 0 0 0%
Schools’ Performances 0 0 0% 6 1,531 84%
Education/Academic/Graduation events 0 0 0% 0 0 0%
Community Concerts 0 0 0% 0 0 0%
Total 107 23,803 73% 166 29,579 58%
29
Subiaco Arts Centre
The Studio at Subiaco Arts Centre
2013
-201
4
Tota
l per
form
ance
s
2013
-201
4
Tota
l atte
ndan
ce
% C
apac
ity
2012
-201
3
Tota
l per
form
ance
s
2012
-201
3
Tota
l atte
ndan
ce
% C
apac
ity
Ballet/Dance 0 0 0% 5 233 39%
Children’s/Youth Performances 13 1,186 76% 0 0 0%
Classical Music 0 0 0% 1 58 48%
Comedy 0 0 0% 0 0 0%
Rock, Pop, Jazz, Folk 0 0 0% 0 0 0%
Conferences/Meetings 0 0 0% 1 100 83%
Dance Schools 0 0 0% 0 0 0%
Theatre 51 2,847 47% 42 1,792 36%
Musical Theatre 0 0 0% 0 0 0%
Opera 0 0 0% 0 0 0%
Other 0 0 0% 1 100 83%
Religious Meetings 0 0 0% 0 0 0%
Schools’ Performances 0 0 0% 2 186 78%
Education/Academic/Graduation events 0 0 0% 0 0 0%
Total 64 4,033 53% 52 2,469 40%
Amphitheatre 2013-2014 Usage
2013-2014 Attendances
2012-2013 Usage
2012-2013 Attendances
Performance 2 280 2 400
Conferences/meetings 0 0 0 0
F&B Non-Show Related
2013-2014 Usage
2013-2014 Attendances
2012-2013 Usage
2012-2013 Attendances
SAC 25 591 34 1,105
30
State Theatre Centre of Western Australia
The State Theatre Centre of Western Australia (STCWA) opened in January 2011. Consisting of multiple performance spaces, it features: the Heath Ledger Theatre, a traditional proscenium arch theatre for seating 575 patrons in an intimate raked auditorium; Studio Underground, a ‘black-box’ style studio with a (seated) capacity of 250 patrons; and an outdoor courtyard space.
Black Swan State Theatre Company and Perth Theatre Company are resident companies at the STCWA.
Venue usageA range of events were presented throughout the year with a total of 402 events attended by 125,201 patrons.
Main Spaces Usage Events Attendance
Heath Ledger Theatre 220 96,652
Studio Underground 142 22,719
Courtyard 5 4,260
Rehearsal Room 2 24 1,213
The Gallery 11 357
Total 402 125,201
Venue highlights and activitiesThe State Theatre Centre’s highlights and activities during 2013/14 included:
▪ The major user was the Black Swan State Theatre Company with six Heath Ledger Theatre productions including ‘A Streetcar Named Desire’ and two Studio Underground productions.
▪ The Studio Underground was used by the Perth Theatre Company for its productions including ‘Wish’ and Barking Gecko’s ‘Driving into Walls’.
▪ The Courtyard was used for the State Of The Art Music festival featuring acts including Gina Williams and Eskimo Joe.
▪ Perth International Arts Festival presented productions in the STCWA including contemporary dance, while national companies were represented by the Australian Dance Theatre’s performance of ‘G’, presented by the Perth Theatre Trust in July 2014.
▪ The venue continued to regularly engage with the Perth Cultural Centre and City of Perth events.
31
State Theatre Centre of Western Australia
Heath Ledger Theatre
2013
-201
4
Tota
l per
form
ance
s
2013
-201
4
Tota
l atte
ndan
ce
% C
apac
ity
2012
-201
3
Tota
l per
form
ance
s
2012
-201
3
Tota
l atte
ndan
ce
% C
apac
ity
Ballet/Dance 20 8,166 71% 7 3,235 80%
Children’s/Youth Performances 47 21,258 79% 1 300 52%
Classical Music 0 0 0% 0 0 0%
Comedy 0 0 0% 0 0 0%
Rock, Pop, Jazz, Folk 2 425 37% 4 1,394 61%
Conferences/Meetings 9 2,120 41% 2 530 46%
Dance Schools 0 0 0% 2 938 82%
Theatre 117 53,786 80% 149 65,790 77%
Musical Theatre 0 0 0% 31 14,880 83%
Opera 0 0 0% 3 1,166 68%
Other 22 9,952 79% 14 7,724 90%
Religious Meetings 0 0 0% 0 0 0%
Schools’ Performances 0 0 0% 0 0 0%
Education/Academic/Graduation events 3 945 55% 0 0 0%
Total 220 96,652 76% 213 95,457 78%
32
State Theatre Centre of Western Australia
Studio Underground
2013
-201
4
Tota
l per
form
ance
s
2013
-201
4
Tota
l atte
ndan
ce
% C
apac
ity
2012
-201
3
Tota
l per
form
ance
s
2012
-201
3
Tota
l atte
ndan
ce
% C
apac
ity
Ballet/Dance 13 2,594 85% 28 3,887 59%
Children’s/Youth Performances 0 0 0% 0 0 0%
Classical Music 0 0 0% 0 0 0%
Comedy 0 0 0% 0 0 0%
Rock, Pop, Jazz, Folk 10 1,499 64% 4 684 73%
Conferences/Meetings 8 931 50% 6 790 56%
Dance Schools 0 0 0% 0 0 0%
Theatre 92 13,011 60% 99 15,389 66%
Musical Theatre 0 0 0% 0 0 0%
Opera 0 0 0% 0 0 0%
Other 18 4,454 99% 19 2,854 64%
Religious Meetings 0 0 0% 0 0 0%
Schools’ Performances 0 0 0% 0 0 0%
Education/Academic/Graduation events 1 230 98% 1 210 90%
Total 142 22,719 68% 157 23,814 65%
33
State Theatre Centre of Western AustraliaCourtyard 2013-2014
Usage2013-2014
Attendances2012-2013
Usage2012-2013
AttendancesEvents 5 4,260 71 3,713
Conferences/meetings 0 0 0 0
Rehearsal Room 2 2013-2014 Usage
2013-2014 Attendances
2012-2013 Usage
2012-2013 Attendances
Events 18 911 N/A N/A
Conferences/meetings 6 302 N/A N/A
The Gallery 2013-2014 Usage
2013-2014 Attendances
2012-2013 Usage
2012-2013 Attendances
Events 10 327 N/A N/A
Conferences/meetings 1 30 N/A N/A
F&B Non-Show Related
2013-2014 Usage
2013-2014 Attendances
2012-2013 Usage
2012-2013 Attendances
STC 112 12,413 78 7,965
34
Albany Entertainment Centre
The Albany Entertainment Centre (AEC), which opened in December 2010, is a performing arts and conference centre. The centrepiece is the 620-seat Princess Royal Theatre which has some of the best acoustics for spoken word and music of any theatre of its kind in Australia. The venue also offers the 200-seat flat floor Kalyenup Studio.
Venue usageA range of events were presented throughout the year with a total of 149 events attended by 36,159 patrons.
Main Spaces Usage Events AttendancePrincess Royal Theatre 83 31,429
Kalyenup Studio 41 3,178
Harbourside Foyer 25 1,552
Total 149 36,159
Venue highlights and activities ▪ The AEC presented the Harbourside Concert Series over eight weeks in July and August featuring 47 musicians (16 based in the Great
Southern).
▪ The centre hosted 47 conferences, functions and private events which attracted in excess of 3,000 people.
▪ One of the major highlights was Black Swan State Theatre Company’s production of Tim Winton’s ‘Shrine’. The AEC is the only regional venue in Australia to present all three of Tim Winton’s plays over the past three years.
▪ Other major productions at the AEC included the Russian National Ballet Theatre’s ‘Swan Lake’ and ‘Nutcracker’, Oz Opera’s ‘Don Giovanni’, Circus Oz’s ‘Cranked Up’, Shaun Parker and Company’s ‘Happy as Larry’, Sydney Dance Company’s ‘2 One Another’ and Bell Shakespeare’s ‘The Comedy of Errors’.
▪ The AEC hosted ‘Global Cello’, ‘Altan’ and ‘An Iliad’ as part of the Perth International Arts Festival’s annual Great Southern Festival in February. In addition, the Outer Fringe’s touring productions of ‘Big Boys Don’t Dance’, Fiona O’Loughlin and EastEnd Cabaret in ‘Dirty Talk’ were staged in the Kalyenup Studio.
▪ The AEC partnered with the local ABC radio station to host the Great Southern final of the ‘Exhumed’ competition.
35
Albany Entertainment Centre
Princess Royal Theatre
2013
-201
4
Tota
l per
form
ance
s
2013
-201
4
Tota
l atte
ndan
ce
% C
apac
ity
2012
-201
3
Tota
l per
form
ance
s
2012
-201
3
Tota
l atte
ndan
ce
% C
apac
ity
Ballet/Dance 6 2,724 73% 7 3,325 77%
Children’s/Youth Performances 3 947 51% 10 3,824 62%
Classical Music 18 4,614 41% 21 5,564 43%
Comedy 3 882 48% 11 4,802 71%
Rock, Pop, Jazz, Folk 22 10,166 75% 37 16,023 70%
Conferences/Meetings 4 852 34% 2 525 42%
Dance Schools 2 1,180 95% 0 0 0%
Theatre 5 1,907 62% 6 1,968 53%
Musical Theatre 6 3,190 86% 0 0 0%
Opera 5 1,654 54% 1 213 34%
Other 4 2,004 81% 4 1,365 55%
Religious Meetings 0 0 0% 0 0 0%
Schools’ Performances 2 450 36% 0 0 0%
Education/Academic/Graduation events 3 859 46% 3 663 36%
Total 83 31,429 61% 102 38,272 61%
36
Albany Entertainment Centre
Kalyenup Studio
2013
-201
4
Tota
l per
form
ance
s
2013
-201
4
Tota
l atte
ndan
ce
% C
apac
ity
2012
-201
3
Tota
l per
form
ance
s
2012
-201
3
Tota
l atte
ndan
ce
% C
apac
ity
Ballet/Dance 2 226 57% 0 0 0%
Children’s/Youth Performances 0 0 0% 0 0 0%
Classical Music 0 0 0% 0 0 0%
Comedy 2 251 63% 0 0 0%
Rock, Pop, Jazz, Folk 2 246 62% 2 37 15%
Conferences/Meetings 24 1,438 30% 19 1,254 53%
Dance Schools 0 0 0% 0 0 0%
Theatre 0 0 0% 0 0 0%
Musical Theatre 2 193 48% 0 0 0%
Opera 0 0 0% 0 0 0%
Other 9 824 46% 3 288 77%
Religious Meetings 0 0 0% 0 0 0%
Schools’ Performances 0 0 0% 0 0 0%
Education/Academic/Graduation events 0 0 0% 2 27 11%
Total 41 3,178 39% 26 1,606 49%
Harbourside Foyer 2013-2014 Usage
2013-2014 Attendances
2012-2013 Usage
2012-2013 Attendances
Events 14 1,350 13 1,188
Conferences/meetings 11 202 9 172
F&B Non-Show Related
2013-2014 Usage
2013-2014 Attendances
2012-2013 Usage
2012-2013 Attendances
AEC 72 4,431 67 4,548
37
Museum of Performing Arts
The Museum of the Performing Arts (MOPA) at His Majesty’s Theatre is one of the only four such boutique institutions in Australia. MOPA is a member of Museums of Australia Performing Arts Special Interest Group and participates in its national activities and initiatives.
During 2013/14, 1,127 people visited the Museum and the website received 3,386 page views and the collection has reached a total of 41,400 catalogued items.
Exhibitions included:
Ladies of the chorusThe roles played by chorus girls was illustrated in a collection of 120 photographs from vaudeville and musical comedy productions staged in Perth in the first half of the 20th century.
In the spotlightThe sounds of rock and roll and audience behaviour were recalled through posters and photographs from Parkerville Amphitheatre, which operated between 1973 and 1982. Perth cinema usherettes and their uniforms were also featured.
ANZAC CovesTo mark the century of the outbreak of WW1, ANZAC Coves highlighted the use of patriotic ballads in preparing a generation of young Australians for the battlefront. The exhibition featured 150 pieces of vintage sheet music from the era.
Significant issues impacting the agency
38
Perth Theatre Trust faces a number of significant issues which may have an impact on the Trust’s outcomes and objectives including:
▪ The Trust’s transition to a new operating model during the second half of 2014. The new operating model will be effective from 1 January 2015.
▪ The Perth Concert Hall lease. This venue is owned by the City of Perth and has been leased to the PTT since 1981. The current lease expires on 31 December 2014.
▪ Ownership of the Albany Entertainment Centre. The centre is due to be transferred to the City of Albany on 30 June 2015. The Trust is continuing to work with the City on a transition plan for the City to take over the Centre’s management and ownership.
▪ Maintenance of venues will continue to be a major issue for the Trust.
▪ The ticketing contract with Ticketek expires in September 2015. 39
40
Disclosures and legal compliance
41
Ministerial directivesNo Ministerial directives were received during the financial year.
Other financial disclosuresPricing policies on servicesIn accordance with Treasurer’s Instruction 810, the Trust has discretion to charge for goods and services subject to Ministerial approval.
Major capital projectsNo major capital works were carried out this year.
Governance disclosures Conflicts of interest - None declared
42
Employee informationThe following table summarises the Perth Theatre Trust employee demographics at 30 June 2014.
Employment type 2013 - 2014 2012 - 2013
Women Men Women Men
Permanent Full-time 2 2 6 2
Permanent Part-time 3 0 4 0
Fixed Term Full-time 0 0 0 0
Fixed Term Part-time 0 0 0 0
Casual paid 0 0 0 0
Other paid 0 0 1 1
Total 5 2 11 3
Board and committee remunerationPosition Name Type of
remunerationPeriod of membership
Gross/actual renumeration
Chair Peter Blaxell Nil January 2013 - present -
Deputy Chair - - - -
Member Jim Adamos Per meeting January 2012 - present $5,240.00
Rob Butler Per meeting September 2003 - present $2,650.00
Helen Cook Per meeting April 2011 - June 2014 $5,700.00
Janet Davidson Per meeting January 2008 - present $3,820.00
Max Kay Per meeting April 2011 - present $6,920.00
Morgan Solomon Per meeting January 2013 - present $5,490.00
Total $29,820.00
43
Other legal requirementsExpenditure on advertising, market research, polling and direct mailSection 175ZE of the Electoral Act 1907 requires public agencies to report details of expenditure to organisations providing services in relation to advertising, market research, polling, direct mail and media advertising. The Perth Theatre Trust has not incurred expenditure of this nature.
Disability access and inclusion plan outcomesOf the 10 strategies outlined in the PTT Disability Access and Inclusion Plan 2013-17 (DAIP), seven have been achieved or are being implemented.
In line with the principles contained within the DAIP, a new partnership was created with Disability in the Arts, Disadvantage in the Arts (WA) (DADAA).
DADAA has been informally supported by the Trust over the past three years to conduct two days of annual training and to support performers with disability in rehearsal room productions of their work at the STCWA. This relationship has been developed into a more formal partnership.
The PTT/DADAA partnership will create access for performers with disability to the STCWA’s Studio Underground Theatre for five days in 2014. It will also provide DADAA performers with technical and front of house support. This partnership will continue to expand to include the Subiaco Arts Centre in the future.
2013/14 also saw the continuation of support for audio descriptive performances at the STCWA.
Compliance with Public Sector Standards and ethical codesPTT works to ensure it is compliant with Public Sector legislative and regulatory frameworks. Policies and procedures are consistently reviewed and updated to ensure they are aligned with contemporary legislative and compliance frameworks. Staff and managers are educated on the Public Sector Standards in Human Resource Management, the Public Sector Code of Ethics and the Culture and Arts Portfolio Code of Conduct. Through this education, PTT staff are aware of the expectations outlined by the Department and the Public Sector Commission.
In 2012/2013 financial year, DCA successfully implemented Accountable and Ethical Decision Making (AEDM) training in the Culture and Arts Portfolio including PTT. In 2013/2014, PTT continues to have high completion of the AEDM training with 100 per cent of new staff finishing the course. The AEDM training module has been updated to reflect internal, Public Sector Commission and Legislative employment changes. The AEDM training reinforces PTT’s compliance requirements while ensuring its workforce is equipped to make ethical decisions on behalf of the broader community.
PTT continues to track internal workforce measures including quarterly reporting and monthly CEO dashboard tracking. These statistics are used to track key trends within PTT as well as compliance with internal and external compliance requirements. These processes have continued to be refined over the 2013/2014 financial year. Feedback from PTT management indicates that the reports provide meaningful workforce statistics that assist them with strategic planning and decision-making.
44
Industrial and Employee Relations
PTT is committed to educating its workforce in the Public Sector Standards in Human Resource Management and the Public Sector Code of Ethics. In the 2013/2014 financial year, there were no reported breaches of the Public Sector Standards within PTT. No potential breaches of the Code of Ethics or DCA’s Code of Conduct (derived from the Public Sector Code of Ethics) were received during the same period.
Human Resources continue to provide ongoing support and advice to managers and staff in industrial relation matters.
Record keeping plansThe PTT Recordkeeping Plan 2010-2015 was approved by the State Records Commission in April 2011. The plan identifies steps to be taken to maintain and improve recordkeeping by the Trust. This includes the development and regular review of an appropriate retention and disposal schedule, development and implementation of a functional thesaurus and the regular revision of recordkeeping policies and procedures. The Trust is required to review the plan by April 2016.
During the year Trust staff attended training to facilitate improved recordkeeping practices.
Freedom of InformationUnder Schedule 2 of the Regulations of the Freedom of Information Act 1992 the Department of Culture and the Arts coordinates freedom of information requests for portfolio agencies including the Perth Theatre Trust.
As prescribed in Section 96 of the Act, the Department publishes an up to date information page confirming the Department’s commitment to the right of all Western Australians to have access to government information for whatever reason they wish. The information page is available on the Department’s website and gives details on how a person can apply for access to the Department’s documents.
45
Government policy requirementsSubstantive equalityIn the 2011/2012 financial year, the Department established the Substantive Equality Reference Group which continues to provide advice to the portfolio on substantive equality and targeting community based arts and culture needs. In 2013/14 the Substantive Equality Reference Group was reformed, engaging employees from across the Culture and Arts Portfolio, including PTT. The first action of the Substantive Equality Reference Group was the formation of a new Substantive Equality Policy to guide the portfolio towards a clear regulatory framework to support community based projects. PTT works within the DCA Substantive Equality Policy, engaging in stakeholder consultation in major department projects.
Occupational safety, health and injury managementPTT is committed to providing and maintaining a healthy and safe working environment for all of its employees, contractors and visitors. This is demonstrated through policies, procedures and work practices that ensure all employees are safe from harm in the workplace. The DCA has approved the OSH Implementation Plan to implement a number of safety and health initiatives across the Culture and Arts Portfolio inclusive of PTT.
The Department and Portfolio agencies (PTT inclusive) facilitate OSH consultation through agency specific OSH committees, the election of safety and health representatives, hazard and incident reporting processes, routine workplace hazard inspections and a process for the resolution of OSH issues. Staff are made aware of these processes at their employee induction, through specific OSH training and access to OSH information on the DCA intranet.
The policy and procedures of PTT are compliant with the Occupational Safety and Health Act 1984 and the Workers Compensation and Injury Management Act 1981. These procedures outline PTT’s commitment to assist employees to return to work after a work-related injury or disease. PTT develops formal, documented return to work programs for employees requiring modified and alternative duties or equipment upon returning to work from an injury or illness.
A formal review of the PTT’s OSH management system was undertaken in 2012 using the WorkSafe Plan. A plan has been developed to address gaps identified through this process and focuses on the audit recommendations in the areas of management commitment, planning, consultation, hazard management and training.
46
OSH performance indicator table
Measure Actual results Results against target
2012-2013 2013-2014 Target Comment on result
Number of fatalities 0 0 0 No change
Lost time injury and/or disease incidence rate
0 00 or 10% improvement
Lost time injury and/or disease severity rate
0 00 or 10% improvement
Percentage of injured workers returned work:
i. Within 13 weeks
N/A N/AGreater than or equal to 80%
ii. Within 26 weeks N/A N/AGreater than or equal to 80%
Percentage of managers trained in occupational safety, health and injury management responsibilities
50% 33%Greater than or equal to 80%
47
Auditor General’s opinionAuditor General
INDEPENDENT AUDITOR’S REPORT
To the Parliament of Western Australia
PERTH THEATRE TRUST
Report on the Financial Statements I have audited the accounts and financial statements of the Perth Theatre Trust.
The financial statements comprise the Statement of Financial Position as at 30 June 2014, the Statement of Comprehensive Income, Statement of Changes in Equity and Statement of Cash Flows for the year then ended, and Notes comprising a summary of significant accounting policies and other explanatory information.
Trustees’ Responsibility for the Financial Statements The Trustees are responsible for keeping proper accounts, and the preparation and fair presentation of the financial statements in accordance with Australian Accounting Standards and the Treasurer’s Instructions, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility As required by the Auditor General Act 2006, my responsibility is to express an opinion on the financial statements based on my audit. The audit was conducted in accordance with Australian Auditing Standards. Those Standards require compliance with relevant ethical requirements relating to audit engagements and that the audit be planned and performed to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Trust’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of accounting estimates made by the Trustees, as well as evaluating the overall presentation of the financial statements.
I believe that the audit evidence obtained is sufficient and appropriate to provide a basis for my audit opinion.
48
Opinion In my opinion, the financial statements are based on proper accounts and present fairly, in all material respects, the financial position of the Perth Theatre Trust at 30 June 2014 and its financial performance and cash flows for the year then ended. They are in accordance with Australian Accounting Standards and the Treasurer’s Instructions.
Report on Controls I have audited the controls exercised by the Perth Theatre Trust during the year ended 30 June 2014.
Controls exercised by the Perth Theatre Trust are those policies and procedures established by the Trustees to ensure that the receipt, expenditure and investment of money, the acquisition and disposal of property, and the incurring of liabilities have been in accordance with legislative provisions.
Trustees’ Responsibility for Controls The Trustees are responsible for maintaining an adequate system of internal control to ensure that the receipt, expenditure and investment of money, the acquisition and disposal of public and other property, and the incurring of liabilities are in accordance with the Financial Management Act 2006 and the Treasurer’s Instructions, and other relevant written law.
Auditor’s Responsibility As required by the Auditor General Act 2006, my responsibility is to express an opinion on the controls exercised by the Perth Theatre Trust based on my audit conducted in accordance with Australian Auditing and Assurance Standards.
An audit involves performing procedures to obtain audit evidence about the adequacy of controls to ensure that the Trust complies with the legislative provisions. The procedures selected depend on the auditor’s judgement and include an evaluation of the design and implementation of relevant controls.
I believe that the audit evidence obtained is sufficient and appropriate to provide a basis for my audit opinion.
Opinion In my opinion, the controls exercised by the Perth Theatre Trust are sufficiently adequate to provide reasonable assurance that the receipt, expenditure and investment of money, the acquisition and disposal of property, and the incurring of liabilities have been in accordance with legislative provisions during the year ended 30 June 2014.
Report on the Key Performance Indicators I have audited the key performance indicators of the Perth Theatre Trust for the year ended 30 June 2014.
The key performance indicators are the key effectiveness indicators and the key efficiency indicators that provide information on outcome achievement and service provision.
Trustees’ Responsibility for the Key Performance Indicators The Trustees are responsible for the preparation and fair presentation of the key performance indicators in accordance with the Financial Management Act 2006 and the Treasurer’s Instructions and for such controls as the Trustees determine necessary to ensure that the key performance indicators fairly represent indicated performance.
49
Auditor’s Responsibility As required by the Auditor General Act 2006, my responsibility is to express an opinion on the key performance indicators based on my audit conducted in accordance with Australian Auditing and Assurance Standards.
An audit involves performing procedures to obtain audit evidence about the key performance indicators. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the key performance indicators. In making these risk assessments the auditor considers internal control relevant to the Trustees’ preparation and fair presentation of the key performance indicators in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the relevance and appropriateness of the key performance indicators for measuring the extent of outcome achievement and service provision.
I believe that the audit evidence obtained is sufficient and appropriate to provide a basis for my audit opinion.
Opinion In my opinion, the key performance indicators of the Perth Theatre Trust are relevant and appropriate to assist users to assess the Trust’s performance and fairly represent indicated performance for the year ended 30 June 2014.
Independence In conducting this audit, I have complied with the independence requirements of the Auditor General Act 2006 and Australian Auditing and Assurance Standards, and other relevant ethical requirements.
Matters Relating to the Electronic Publication of the Audited Financial Statements and Key Performance Indicators This auditor’s report relates to the financial statements and key performance indicators of the Perth Theatre Trust for the year ended 30 June 2014 included on the Trust’s website. The Trust’s management is responsible for the integrity of the Trust’s website. This audit does not provide assurance on the integrity of the Trust’s website. The auditor’s report refers only to the financial statements and key performance indicators described above. It does not provide an opinion on any other information which may have been hyperlinked to/from these financial statements or key performance indicators. If users of the financial statements and key performance indicators are concerned with the inherent risks arising from publication on a website, they are advised to refer to the hard copy of the audited financial statements and key performance indicators to confirm the information contained in this website version of the financial statements and key performance indicators.
DON CUNNINGHAME ASSISTANT AUDITOR GENERAL FINANCIAL AUDIT Delegate of the Auditor General for Western Australia Perth, Western Australia 28 August 2014
Page 3 of 3
An audit involves performing procedures to obtain audit evidence about the key performance indicators. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the key performance indicators. In making these risk assessments the auditor considers internal control relevant to the Trustees’ preparation and fair presentation of the key performance indicators in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the relevance and appropriateness of the key performance indicators for measuring the extent of outcome achievement and service provision. I believe that the audit evidence obtained is sufficient and appropriate to provide a basis for my audit opinion. Opinion In my opinion, the key performance indicators of the Perth Theatre Trust are relevant and appropriate to assist users to assess the Trust’s performance and fairly represent indicated performance for the year ended 30 June 2014. Independence In conducting this audit, I have complied with the independence requirements of the Auditor General Act 2006 and Australian Auditing and Assurance Standards, and other relevant ethical requirements. Matters Relating to the Electronic Publication of the Audited Financial Statements and Key Performance Indicators This auditor’s report relates to the financial statements and key performance indicators of the Perth Theatre Trust for the year ended 30 June 2014 included on the Trust’s website. The Trust’s management is responsible for the integrity of the Trust’s website. This audit does not provide assurance on the integrity of the Trust’s website. The auditor’s report refers only to the financial statements and key performance indicators described above. It does not provide an opinion on any other information which may have been hyperlinked to/from these financial statements or key performance indicators. If users of the financial statements and key performance indicators are concerned with the inherent risks arising from publication on a website, they are advised to refer to the hard copy of the audited financial statements and key performance indicators to confirm the information contained in this website version of the financial statements and key performance indicators.
DON CUNNINGHAME ASSISTANT AUDITOR GENERAL FINANCIAL AUDIT Delegate of the Auditor General for Western Australia Perth, Western Australia 28 August 2014
50
Certification of performance indicatorsFor the year ended 30 June 2014We hereby certify that the Performance Indicators are based on proper records, are relevant and appropriate for assisting users to assess the Perth Theatre Trust performance, and fairly represent the performance of the Perth Theatre Trust for the financial year ended 30 June 2014.
Trustee 21 August 2014
Trustee 21 August 2014
51
Performance indicatorsPerformance indicator informationGovernment goalThe Perth Theatre Trust (the Trust) contributes to the achievement of the Government Goal:
Greater focus on achieving results in key service delivery areas for the benefit of all Western Australians.
Government desired outcomes Outcome 1:
A creative, sustainable and accessible culture and arts sector.
Outcome 2:
Western Australia’s natural, cultural and documentary collections are managed, conserved and accessible.
The Trust is a statutory authority within the Culture and Arts portfolio and is shown under Venue Management Services in the 2013-2014 Budget Papers. Key Performance Indicators have been developed in accordance with Treasurer’s Instruction 904 to evaluate the Trust’s performance in achieving the Government Desired Outcome and to provide an overview of the critical and material aspects of service provision.
52
Key effectiveness indicatorsIndicator 1 – Venue management servicesMeasures of Access to the Arts
Rationale The following chart provides access indicators for attendances at performances in Trust venues. While the Trust has only limited influence on either the number of productions and performances presented at its venues or the number of patrons who choose to attend those performances, its aim is to assist presenters to maximise attendances.
Chart 1: Public use of major venues (against benchmark)
0
50,000
100,000
150,000
200,000
250,000
300,000
2010-2011 2011-2012 2012-2013 2013-2014
Perth Concert Hall (PCH)
His Majesty's Theatre (HMT)
Playhouse Theatre (PLY)
Subiaco Arts Centre (SAC)
State Theatre Centre WA [STCWA]
Albany Entertainment Centre [AEC]
PCH Benchmark
HMT Benchmark
PLY Benchmark
SAC Benchmark
STCWA Benchmark
AEC Benchmark
53
Chart 2: Public use of major venues
0
50,000
100,000
150,000
200,000
250,000
Perth
Con
cert Hall (P
CH
)
His M
ajesty's Theatre (H
MT)
Sub
iaco Arts C
entre (S
AC
)
State Th
eatre C
entre W
A[S
TCW
A]
Alb
any En
tertainm
ent C
entre
[AEC
]
Public use for all venues
Attendance
Benchmark
Chart 3: Participation rates at Perth Theatre Trust venues
300,000
350,000
400,000
450,000
500,000
550,000
04/05 05/06 06/07 07/08 08/09 09/10 10/11 11/12 12/13 13/14
Att
end
ance
Financial year
Participation rates at Perth Theatre Trust venues
54
Public use of major venues Usage trend The number of performances/events across venues was 1,121 in 2013-2014. This is slightly lower than the 1,146 events held last year.
Note 1: Participation rates at Perth Theatre Trust venues
Overall, the attendance rate at Trust venues was 512,212 – a small increase in attendances from last year’s figure of 484,409.
Efficiency indicatorsKey Performance Indicators overview The number of events across venues was 1,121 in 2013-2014. This is slightly lower than the previous year’s performance numbers, but an increase on the estimated events of 898 events.
The table below represents the number of performances at venues managed by the Trust.
These performance measures address the efficiency with which the Trust undertakes work associated in achieving this service.
Measure 2010-2011 Actual
2011-2012 Actual
2012-2013 Actual
2013-2014 Target
2013-2014 Actual
Number of performances at Trust venues
883 1,138 1,146 898 1,121
Average cost per performance $28,979 $26,248 $24,743 $31,203 $24,927
NoteThe significant increase in the actual performances in 2013-2014 when compared with the target was as a result of:
1. Increased level of business overall as economy picks up, more hiring’s and more catering functions than budgeted for.
2. A return to more national, commercial touring of performing arts product is being noticed as the economy picks up and major new productions and tours are again being undertaken.
55
Certification of financial statementsFor the year ended 30 June 2014The accompanying financial statements of Perth Theatre Trust have been prepared in compliance with the provisions of the Financial Management Act 2006 from proper accounts and records to present fairly the financial transactions for the financial year ending 30 June 2014 and the financial position as at 30 June 2014.
At the date of signing we are not aware of any circumstances which would render any particulars included in the financial statements misleading or inaccurate.
Chief Finance Officer 21 August 2014
Chairman of Perth Theatre Trust21 August 2014
Member of Perth Theatre Trust21 August 2014
Financial statements
56
Stat
emen
t of C
ompr
ehen
sive
Inco
me
For
the
year
end
ed 3
0 Ju
ne 2
014
Not
e 20
14$0
0020
13$0
00Co
st o
f ser
vice
sEx
pens
es
Empl
oyee
ben
efits
exp
ense
714
,158
14,1
76
Supp
lies
and
serv
ices
84,
875
4,37
6
Dep
reci
atio
n an
d am
ortis
atio
n ex
pens
e9
4,19
54,
338
Acco
mm
odat
ion
expe
nses
102,
987
3,74
2
Cos
t of s
ales
131,
230
1,10
1
Loss
on
disp
osal
of n
on-c
urre
nt a
sset
s17
140
341
Oth
er e
xpen
ses
1132
128
1
Tota
l cos
t of s
ervi
ces
27,9
0628
,355
Inco
me
Rev
enue
User
cha
rges
and
fees
127,
331
8,16
5
Sale
s13
4,98
84,
268
Spon
sors
hip
1441
544
5
Inte
rest
rev
enue
1511
214
2
Oth
er r
even
ue16
2,02
11,
512
Tota
l Rev
enue
14,8
6714
,532
Gai
ns
Gai
n on
dis
posa
l of n
on-c
urre
nt a
sset
s0
3
Tota
l Gai
ns17
03
Tota
l inc
ome
othe
r th
an In
com
e fr
om S
tate
Gov
ernm
ent
14,8
6714
,535
Net
cos
t of s
ervi
ces
13,0
3913
,820
Inco
me
from
Sta
te G
over
nmen
t18
Serv
ice
appr
opria
tion
14,4
9310
,577
Stat
e gr
ants
and
sub
sidi
es
755
221
Asse
ts a
ssum
ed/(t
rans
ferr
ed) i
n5,
18
(145
)0
Serv
ices
rec
eive
d fr
ee o
f cha
rge
(2)
2,81
6
Tota
l inc
ome
from
Sta
te G
over
nmen
t15
,101
13,6
14Su
rplu
s/(d
efici
t) fo
r th
e pe
riod
2,06
2(2
06)
Oth
er c
ompr
ehen
sive
inco
me
Item
s no
t cla
ssifi
ed s
ubse
quen
tly to
pro
fit o
r lo
ss
Cha
nges
in a
sset
rev
alua
tion
surp
lus
(300
)(5
,360
)
Tota
l oth
er c
ompr
ehen
sive
inco
me
(300
)(5
,360
)
Tota
l com
preh
ensi
ve in
com
e fo
r th
e pe
riod
1,76
2(5
,566
)Th
e St
atem
ent o
f Com
preh
ensi
ve In
com
e sh
ould
be
read
in
con
junc
tion
with
the
acco
mpa
nyin
g no
tes.
57
58
Stat
emen
t of F
inan
cial
Pos
ition
As a
t 30
June
201
4
Not
e 20
14$0
0020
13$0
00A
sset
sCu
rren
t Ass
ets
Cas
h an
d ca
sh e
quiv
alen
ts33
1,99
61,
540
Rest
ricte
d ca
sh a
nd c
ash
equi
vale
nts
19, 3
33,
251
3,20
2
Inve
ntor
ies
2012
411
0
Rece
ivab
les
2147
443
7
Oth
er c
urre
nt a
sset
s23
822
710
Tota
l Cur
rent
Ass
ets
6,66
75,
999
Non
-Cur
rent
Ass
ets
Rest
ricte
d ca
sh a
nd c
ash
equi
vale
nts
19, 3
384
-
Amou
nts
rece
ivab
le fo
r se
rvic
es22
21,5
5917
,475
Prop
erty
, pla
nt a
nd e
quip
men
t24
207,
852
211,
325
Inta
ngib
le a
sset
s26
129
311
Tota
l Non
-Cur
rent
Ass
ets
229,
624
229,
111
Tota
l Ass
ets
236,
291
235,
110
Liab
ilitie
sCu
rren
t Lia
bilit
ies
Paya
bles
28
1,33
61,
785
Fund
s he
ld in
trus
t29
3,31
63,
202
Prov
isio
ns30
576
444
Oth
er c
urre
nt li
abili
ties
3168
11,
153
Tota
l Cur
rent
Lia
bilit
ies
5,90
96,
584
Non
-Cur
rent
Lia
bilit
ies
Prov
isio
ns30
178
84
Tota
l Non
-Cur
rent
Lia
bilit
ies
178
84
Tota
l Lia
bilit
ies
6,08
76,
668
Net
Ass
ets
230,
204
228,
442
Equi
ty32
Con
trib
uted
equ
ity
193,
659
193,
659
Rese
rves
11
,950
12,2
50
Accu
mul
ated
sur
plus
24,5
9522
,533
Tota
l equ
ity23
0,20
422
8,44
2
The
Stat
emen
t of F
inan
cial
Pos
ition
sho
uld
be r
ead
in c
onju
nctio
n w
ith th
e ac
com
pany
ing
note
s.
59
Statement of Changes in EquityFor the year ended 30 June 2014
Note
Contributed equity $000
Reserves $000
Accumulated surplus $000
Total equity $000
Balance at 1 July 2012 32 193,659 17,610 22,739 234,008
Total comprehensive income for the period 0 (5,360) (206) (5,566)
Transactions with owners in their capacity as owners:
Capital appropriations 0 0 0 0
Total 0 (5,360) (206) (5,566)
Balance at 30 June 2013 193,659 12,250 22,533 228,442
Balance at 1 July 2013 193,659 12,250 22,533 228,442
Total comprehensive income for the period 0 (300) 2,062 1,762
Transactions with owners in their capacity as owners:
Capital appropriations 0 0 0 0
Other contributions by owners 0 0 0 0
Distributions to owners 0 0 0 0
Total 0 (300) 2,062 1,762
Balance at 30 June 2014 193,659 11,950 24,595 230,204
The Statement of Changes in Equity should be read in conjunction with the accompanying notes.
60
Stat
emen
t of C
ash
Flow
sFo
r th
e ye
ar e
nded
30
June
201
4
Not
e 20
14$0
0020
13$0
00Ca
sh fl
ows
from
Sta
te G
over
nmen
tSe
rvic
e ap
prop
riatio
n10
,468
6,20
7St
ate
gran
ts a
nd s
ubsi
dies
776
344
Cap
ital c
ontr
ibut
ions
00
Hol
ding
acc
ount
dra
wdo
wns
00
Roya
lties
for
Regi
ons
Fund
00
27th
Pay
hol
ding
acc
ount
mov
emen
t84
Net
cas
h pr
ovid
ed b
y St
ate
Gov
ernm
ent
11,3
286,
551
Utili
sed
as fo
llow
s:Ca
sh fl
ows
from
ope
ratin
g ac
tiviti
esPa
ymen
tsPa
ymen
ts fr
om tr
ust f
und
0(4
2,84
1)Em
ploy
ee b
enefi
ts
(14,
136)
(12,
048)
Supp
lies
and
serv
ices
(7,0
89)
(4,3
15)
Acco
mm
odat
ion
(3,0
60)
(3,9
01)
GST
pay
men
ts o
n pu
rcha
ses
(2,0
97)
(1,9
36)
GST
pay
men
ts to
taxa
tion
auth
ority
(8)
(22)
Oth
er p
aym
ents
(353
)(2
25)
Rec
eipt
sRe
ceip
ts in
to tr
ust f
und
114
40,7
72Us
er c
harg
es a
nd fe
es7,
150
8,38
7Sa
le o
f goo
ds a
nd s
ervi
ces
4,98
84,
268
Spon
sors
hip
415
445
Inte
rest
rec
eive
d11
218
3G
ST r
ecei
pts
on s
ales
1,39
21,
262
GST
rec
eipt
s fr
om ta
xatio
n au
thor
ity71
262
4O
ther
rec
eipt
s2,
038
1,53
1N
et c
ash
prov
ided
by/
(use
d in
) ope
ratin
g ac
tiviti
es33
(9,8
22)
(7,8
16)
Cash
flow
s fr
om in
vest
ing
activ
ities
Paym
ents
Purc
hase
of n
on-c
urre
nt p
hysi
cal a
sset
s(9
17)
(299
)
Rec
eipt
sPr
ocee
ds fr
om s
ale
of n
on-c
urre
nt p
hysi
cal a
sset
s0
3N
et c
ash
prov
ided
by/
(use
d in
) ope
ratin
g ac
tiviti
es(9
17)
(296
)
Net
incr
ease
/(dec
reas
e) in
cas
h an
d ca
sh e
quiv
alen
ts58
9(1
,561
)
Cas
h an
d ca
sh e
quiv
alen
ts a
t the
beg
inni
ng o
f the
per
iod
4,74
26,
303
Cash
and
cas
h eq
uiva
lent
s at
the
end
of p
erio
d33
5,33
14,
742
The
Stat
emen
t of C
ash
Flow
s sh
ould
be
read
in c
onju
nctio
n w
ith th
e ac
com
pany
ing
note
s.
61
Notes to the Financial StatementsFor the year ended 30 June 2014
Note 1. Australian Accounting StandardsGeneralPerth Theatre Trust’s financial statements for the year ended 30 June 2014 have been prepared in accordance with Australian Accounting Standards. The term ‘Australian Accounting Standards’ includes Standards and Interpretations issued by the Australian Accounting Standard Board (AASB).
Perth Theatre Trust has adopted any applicable, new and revised Australian Accounting Standards from their operative dates.
Early adoption of standardsPerth Theatre Trust cannot early adopt an Australian Accounting Standard unless specifically permitted by TI 1101 Application of Australian Accounting Standards and Other Pronouncements. There has been no early adoption of Australian Accounting Standards that have been issued or amended (but not operative) by Perth Theatre Trust for the annual reporting period ended 30 June 2014.
Note 2. Summary of significant accounting policies(a) General statementPerth Theatre Trust is a not-for-profit reporting entity that prepares general purpose financial statements in accordance with Australian Accounting Standards, the Framework, Statements of Accounting Concepts and other authoritative pronouncements of the AASB as applied by the Treasurer’s instructions. Several of these are modified by the Treasurer’s instructions to vary application, disclosure, format and wording.
The Financial Management Act and the Treasurer’s instructions impose legislative provisions that govern the preparation of financial statements and take precedence over Australian Accounting Standards, the Framework, Statements of Accounting Concepts and other authoritative pronouncements of the AASB.
Where modification is required and has had a material or significant financial effect upon the reported results, details of that modification and the resulting financial effect are disclosed in the notes to the financial statements.
(b) Basis of preparationThe financial statements have been prepared on the accrual basis of accounting using the historical cost convention, except for land, buildings and infrastructure which have been measured at fair value.
The accounting policies adopted in the preparation of the financial statements have been consistently applied throughout all periods presented unless otherwise stated.
The financial statements are presented in Australian dollars and all values are rounded to the nearest thousand dollars ($’000).
Note 3 ‘Judgements made by management in applying accounting policies’ discloses judgements that have been made in the process of applying Perth Theatre Trust’s accounting policies resulting in the most significant effect on amounts recognised in the financial statements.
62
(c) Reporting entityThe reporting entity comprises the Perth Theatre Trust.
(d) Contributed equityAASB Interpretation 1038 Contributions by Owners Made to Wholly-Owned Public Sector Entities requires transfers in the nature of equity contributions, other than as a result of a restructure of administrative arrangements, to be designated by the Government (the owner) as contributions by owners (at the time of, or prior to transfer) before such transfers can be recognised as equity contributions. Capital appropriations have been designated as contributions by owners by TI 955 Contributions by Owners made to Wholly Owned Public Sector Entities and have been credited directly to Contributed equity.
The transfer of net assets to/from other agencies, other than as a result of a restructure of administrative arrangements, are designated as contributions by owners where the transfers are non-discretionary and non-reciprocal.
(e) IncomeRevenue recognitionRevenue is recognised and measured at the fair value of consideration received or receivable. Revenue is recognised for the major business activities as follows:
Sale of goodsRevenue is recognised from the sale of goods and disposal of other assets when the significant risks and rewards of ownership transfer to the purchaser and can be measured reliably.
Provision of servicesRevenue is recognised by reference to the stage of completion of the transaction.
Interest Revenue is recognised as the interest accrues.
Service appropriationsService Appropriations are recognised as revenues at fair value in the period in which Perth Theatre Trust gains control of the appropriated funds. Perth Theatre Trust gains control of the appropriated funds at the time those funds are deposited to the bank account or credited to ‘Amounts receivable for services’ (holding account) held at Treasury.
Grants, donations, gifts and other non-reciprocal contributionsRevenue is recognised at fair value when Perth Theatre Trust obtains control over the assets comprising the contributions, usually when cash is received.
Other non-reciprocal contributions that are not contributions by owners are recognised at their fair value. Contributions of services are only recognised when a fair value can be reliably determined and the services would be purchased if not donated.
Royalties for Regions funds are recognised as revenue at fair value in the period in which Perth Theatre Trust obtains control over the funds. Perth Theatre Trust obtains control of the funds at the time the funds are deposited into Perth Theatre Trust’s bank account.
GainsRealised or unrealised gains are usually recognised on a net basis. These include gains arising on the disposal of non-current assets and some revaluations of non-current assets.
(f) Property, plant and equipmentCapitalisation/expensing of assetsItems of property, plant and equipment costing over $5,000 or more are recognised as assets and the cost of utilising assets is expensed (depreciated) over their useful lives. Items of property, plant and equipment costing less than $5,000 are immediately expensed direct to the Statement of Comprehensive Income (other than where they form part of a group of similar items which are significant in total).
63
Initial recognition and measurementProperty, plant and equipment are initially recognised at cost.
For items of property, plant and equipment acquired at no cost or for nominal cost, the cost is the fair value at the date of acquisition.
Subsequent MeasurementSubsequent to initial recognition as an asset, the revaluation model is used for the measurement of land and buildings and historical cost for all other property, plant and equipment. Land and buildings are carried at fair value less accumulated depreciation (buildings only) and accumulated impairment losses. All other items of property, plant and equipment are stated at historical cost less accumulated depreciation and accumulated impairment losses.
Where market-based evidence is available, the fair value of land and buildings is determined on the basis of current market buying values determined by reference to recent market transactions. When buildings are revalued by reference to recent market transactions, the accumulated depreciation is eliminated against the gross carrying amount of the asset and the net amount restated to the revalued amount.
In the absence of market-based evidence, fair value of land and buildings is determined on the basis of existing use. This normally applies where buildings are specialised or where land use is restricted. Fair value for existing use assets is determined by reference to the cost of replacing the remaining future economic benefits embodied in the asset, i.e. the depreciated replacement cost. Where the fair value of buildings is determined on the depreciated replacement cost basis, the gross carrying amount and the accumulated depreciation are restated proportionately. Fair value for restricted use land is determined by comparsion with market evidence for land with similar approximate utility (high restricted use land) or market value of comparable unrestricted land (low restricted use land).
Land and buildings are independently valued annually by the Western Australian Land Information Authority (Valuation Services) and recognised annually to ensure that the carrying amount does not differ materially from the asset’s fair value at the end of the reporting period.
The most significant assumptions in estimating fair value are made in assessing whether to apply the existing use basis to assets and in determining estimated useful life. Professional judgement by the valuer is required where the evidence does not provide a clear distinction between market type assets and existing use assets.
DerecognitionUpon disposal or derecognition of an item of property, plant and equipment, any revaluation surplus relating to that asset is retained in the asset revaluation surplus.
Asset revaluation surplusThe asset revaluation surplus is used to record increments and decrements on the revaluation of non-current assets as described in note 22 ‘Property, plant and equipment’.
DepreciationAll non-current assets having a limited useful life are systematically depreciated over their estimated useful lives in a manner that reflects the consumption of their future economic benefits.
Depreciation is calculated using the straight line method, using rates which are reviewed annually. Estimated useful lives for each class of depreciable asset are:
Buildings 66 yearsAir conditioning upgrades 4 to 25 yearsLeasehold improvements 3 to 40 yearsCommunication equipment 4 to 10 yearsComputer hardware 3 to 4 yearsFurniture, fixtures and fittings 4 to 20 yearsPlant and machinery 3 to 25 yearsOffice equipment 5 to 10 yearsOther equipment 4 to 20 years
64
Works of art controlled by Perth Theatre Trust are classified as property, plant and equipment. These are anticipated to have indefinite useful lives. Their service potential has not, in any material sense, been consumed during the reporting period and consequently no depreciation has been recognised.
Land is not depreciated.
(g) Intangible assetsCapitalisation/Expensing of assetsAcquisitions of intangible assets costing over $5,000 or more and internally generated intangible assets costing $50,000 or more are capitalised. The cost of utilising the assets are expensed (amortised) over their useful life. Costs incurred below these thresholds are immediately expensed directly to the Statement of Comprehensive Income.
Intangible assets are initially recognised at cost. For assets acquired at no cost or for nominal cost, the cost is their fair value at the date of acquisition.
The cost model is applied for subsequent measurement requiring the asset to be carried at cost less any accumulated amortisation and accumulated impairment losses.
Amortisation for intangible assets with finite useful lives is calculated for the period of the expected benefit (estimated useful life which is reviewed annually) on the straight line basis. All intangible assets controlled by Perth Theatre Trust have a finite useful life and zero residual value.
The expected useful lives for each class of intangible asset are:
Software (a) 3 to 10 years
(a) Software that is not integral to the operation of any related hardware.
Computer SoftwareSoftware that is an integral part of the related hardware is recognised as property, plant and equipment. Software that is not an integral part of the related hardware is recognised as an intangible asset. Software costing less than $5,000 is expensed in the year of acquisition.
(h) Impairment of assetsProperty, plant and equipment and intangible assets are tested for any indication of impairment at the end of each reporting period. Where there is an indication of impairment, the recoverable amount is estimated. Where the recoverable amount is less than the carrying amount, the asset is considered impaired and written down to the recoverable amount and an impairment loss is recognised. Where an asset measured at cost is written down to recoverable amount, an impairment loss is recognised in profit or loss. Where a previously revalued asset is written down to recoverable amount, the loss is recognised as a revaluation decrement in other comprehensive income. As Perth Theatre Trust is a not-for-profit entity, unless an asset has been identified as a surplus asset, the recoverable amount is the higher of an asset’s fair value less costs to sell and depreciated replacement cost.
The risk of impairment is generally limited to circumstances where an asset’s depreciation is materially understated, where the replacement cost is falling or where there is a significant change in useful life. Each relevant class of assets is reviewed annually to verify that the accumulated depreciation/amortisation reflects the level of consumption or expiration of asset’s future economic benefits and to evaluate any impairment risk from falling replacement costs.
Intangible assets with an indefinite useful life and intangible assets not yet available for use are tested for impairment at each reporting period irrespective of whether there is any indication of impairment.
The recoverable amount of assets identified as surplus assets is the higher of fair value less costs to sell and the present value of future
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cash flows expected to be derived from the asset. Surplus assets carried at fair value have no risk of material impairment where fair value is determined by reference to market-based evidence. Where fair value is determined by reference to depreciated replacement cost, surplus assets are at risk of impairment and the recoverable amount is measured. Surplus assets at cost are tested for indications of impairment at the end of each reporting period.
(i) LeasesPerth Theatre Trust holds operating leases for office accommodation and motor vehicle. Operating leases are expensed on a straight line basis over the lease term as this represents the pattern of benefits derived from the leased properties.
(j) Financial instrumentsIn addition to cash, Perth Theatre Trust has two categories of financial instrument:
▪ Loans and receivables; and
▪ Financial liabilities measured at amortised cost.
Financial Instruments have been disaggregated into the following classes:
Financial Assets:
▪ Cash and cash equivalents
▪ Restricted cash and cash equivalents
▪ Receivables
▪ Amounts receivable for services
Financial Liabilities: ▪ Payables
▪ Funds held in trust
Initial recognition and measurement of financial instruments is at fair value which normally equates to the transaction cost or the face value. Subsequent measurement is at amortised cost using the effective interest method.
The fair value of short-term receivables and payables is the transaction cost or the face value because there is no interest rate applicable and subsequent measurement is not required as the effect of discounting is not material.
(k) Cash and cash equivalentsFor the purposes of the Statement of Cash Flows, cash and cash equivalent (and restricted cash and cash equivalent) assets comprise cash on hand and short-term deposits with original maturities of three months or less that are readily convertible to a known amount of cash and which are subject to insignificant risk of changes in value.
(l) Accrued salariesAccrued salaries (see note 28 ‘Payables’) represents the amount due to staff but unpaid at the end of the financial year. Accrued salaries are settled within a fortnight of the financial year end. Perth Theatre Trust considers the carrying amount of accrued salaries to be equivalent to its net fair value.
(m) Amounts receivable for services (holding account)Perth Theatre Trust receives income from the State Government partly in cash and party as an asset (holding account receivable). The accrued amount appropriated is accessible on the emergence of the cash funding requirement to cover leave entitlements and asset replacement.
(n) InventoriesInventories are measured at the lower of cost and net realisable value. Costs are assigned by the method most appropriate for each particular class of inventory, with the majority being measured on a first in first out basis.
Inventories not held for resale are valued at cost unless they are no longer required, in which case they are valued at net realisable value.
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(o) ReceivablesReceivables are recognised at original invoice amount less an allowance for any uncollectible amounts (i.e. impairment). The collectability of receivables is reviewed on an ongoing basis and any receivables identified as uncollectible are written-off against the allowance account. The allowance for uncollectible amounts (doubtful debts) is raised when there is objective evidence that the Perth Theatre Trust will not be able to collect the debts. The carrying amount is equivalent to fair value as it is due for settlement within 30 days.
(p) PayablesPayables are recognised when Perth Theatre Trust becomes obliged to make future payments as a result of a purchase of assets or services. The carrying amount is equivalent to fair value, as settlement is generally within 30 days.
(q) ProvisionsProvisions are liabilities of uncertain timing or amount and are recognised where there is a present legal or constructive obligation as a result of a past event and when the outflow of resources embodying economic benefits is probable and a reliable estimate can be made of the amount of the obligation. Provisions are reviewed at the end of each reporting period.
Provisions - employee benefitsAll annual leave and long service leave provisions are in respect of employees’ services up to the end of the reporting period.
Annual leaveAnnual leave is not expected to be settled wholly within 12 months after the reporting period and is therefore considered to be ‘other long-term employee benefits’. The annual leave liability is recognised and measured at the present value of amounts expected to be paid when the liabilities are settled using the remuneration rate expected to apply at the time of settlement.
When assessing expected future payments consideration is given to expected future wage and salary levels including non-salary components such as employer superannuation contributions, as well as the experience of employee departures and periods of service. The expected future payments are discounted using market yields at the end of the reporting period on national government bonds with terms to maturity that match, as closely as possible, the estimated future cash outflows.
The provision for annual leave is classified as a current liability as Perth Theatre Trust does not have an unconditional right to defer settlement of the liability for at least 12 months after the reporting period.
Long service leaveLong service leave is not expected to be settled wholly within 12 months after the end of the reporting period is recognised and measured at the present value of amounts expected to be paid when the liabilities are settled using the remuneration rate expected to apply at the time of settlement.
When assessing expected future payments consideration is given to expected future wage and salary levels including non-salary components such as employer superannuation contributions, as well as the experience of employee departures and periods of service. The expected future payments are discounted using market yields at the end of the reporting period on national government bonds with terms to maturity that match, as closely as possible, the estimated future cash outflows.
Unconditional long service leave provisions are classified as current liabilities as Perth Theatre Trust does not have an unconditional right to defer settlement of the liability for at least 12 months after the end of the reporting period. Pre-conditional and conditional long service leave provisions are classified as non-current liabilities because Perth Theatre Trust has an unconditional right to defer the settlement of the liability until the employee has completed the requisite years of service.
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SuperannuationAEG Ogden (Perth) Pty Ltd currently pay 9.25% Superannuation Guarantee Levy on the ordinary time earnings of their employees (including part-time and casual employees) who are aged between 18 and 75, and who are paid at least $450 (before tax) a month, into a complying superannuation fund or retirement savings account.
AEG Ogden (Perth) Pty Ltd makes concurrent contributions to a complying superannuation fund or a retirement savings account (RSA) of the employee’s choice on behalf of the employee in compliance with the Commonwealth Government’s Superannuation Guarantee (Administration) Act 1992. This is the primary legislation affecting employers and details the administrative arrangements for the operation of the Superannuation Guarantee (SG) scheme, including assessment of the employer’s liability, calculation of the Superannuation Guarantee charge, payment of the charge and distribution of payments received.
The Government Employees Superanuation Board (GESB) and other fund providers administer public sector superannuation arrangements in Western Australia in accordance with legislative requirements. Eligibility criteria for membership in particular schemes for public sector employees vary according to commencement and implementaion dates.
Eligible employees contribute to the Pension Scheme, a defined benefit pension scheme closed to new members since 1987, or the Gold State Superannuation Scheme (GSS), a defined benefit lump sum scheme closed to new members since 1995.
Employees commencing employment prior to 16 April 2007 who were not members of either the Pension Scheme or the GSS became non-contributory members of the West State Superannuation Scheme (WSS). Employees commencing employment on or after 16 April 2007 became members of the GESB Super Scheme (GESBS). From 30 March 2012, existing members of the WSS or GESBS and new employees have been able to choose their preferred superannuation fund provider. The Perth Theatre Trust makes contributions to GESB or other fund providers on behalf of employees in compliance with the Commonwealth Government’s Superannuation Guarantee (Administration) Act 1992. Contributions to these accumulation schemes extinguish the Perth Theatre Trust’s liability for superannuation charges in respect of employees who are not members of the Pension Scheme or GSS.
The GSS is a defined benefit scheme for the purposes of employees and whole-of-government reporting. However, it is a defined contribution plan for agency purposes because the concurrent contributions (defined contributions) made by the Perth Theatre Trust to GESB extinguishes the agency’s obligations to the related superannuation liability.
The Perth Theatre Trust has no liabilities under the Pension Scheme or the GSS. The liabilities for the unfunded Pension Scheme and the unfunded GSS transfer benefits attributable to members who transferred from the Pension Scheme, are assumed by the Treasurer. All other GSS obligations are funded by concurrent contributions made by the Perth Theatre Trust to the GESB.
The GESB makes all benefit payments in respect of the Pension Scheme and GSS, and is recouped from the Treasurer for the employer’s share.
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Provisions - OtherEmployment On-CostsEmployment on-costs, including workers’ compensation insurance, are not employee benefits and are recognised separately as liabilities and expenses when the employment to which they relate has occurred. Employment on-costs are included as part of ‘Other expenses’ and are not included as part of Perth Theatre Trust’s ‘Employee benefits expense’. The related liability is included in ‘Employment on-costs provision’.
(r) Superannuation expenseSuperannuation expense is recognised in the profit or loss of the Statement of Comprehensive Income and comprises employer contributions paid to the GSS (concurrent contributions), the WSS, the GESBS, or other superannuation funds. The employer contribution paid to the GESB in respect of the GSS is paid back into the Consolidated Account by the GESB.
(s) Assets and services received free of charge or for nominal cost
Assets or services received free of charge or for nominal cost are recognised as income at the fair value of the assets and/or the fair value of those services that can be reliably measured and the Perth Theatre Trust would otherwise pay for. A corresponding expense is recognised for services received. Receipts of assets are recognised in the Statement of Financial Position.
Assets or services received from other State Government agencies are separately disclosed under Income from State Government in the Statement of Comprehensive Income.
(t) Comparative figuresComparative figures are, where appropriate, reclassified to be comparable with the figures presented in the current financial year.
(u) Department of Culture and the Arts
The Department of Culture and the Arts provides support for capital projects to agencies in the Culture and Arts portfolio. The Department receives an appropriation for capital projects and minor asset equipment as part of the DCA PC Replacement Program. These resources, provided to the Board, but paid for by the Department, have been treated as ‘Resources received free of charge’ in the Income Statement.
The Department of Culture and the Arts provides shared corporate services to the Board which are not recognised in the Income Statement.
Note 3. Judgements made by management in applying accounting policiesThe preparation of financial statements requires management to make judgements about the application of accounting policies that have a significant effect on the amounts recognised in the financial statements. Perth Theatre Trust evaluates these judgements regularly.
Operating lease commitmentsPerth Theatre Trust has entered into a commercial lease for a motor vehicle and has determined that the lessor retains all the significant risks and rewards of ownership of the property. Accordingly, this lease has been classified as an operating lease.
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Perth Theatre Trust has operating leases for buildings. The property leases are non-cancellable leases, with rent payable monthly in advance. Contingent rental provisions within the lease agreements require that minimum lease payments shall be increased by the lower of CPI or 3.5% per annum. An option exists to renew the leases at the end of the term.
Note 4. Key sources of estimation uncertaintyKey estimates and assumptions concerning the future are based on historical experience and various other factors that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year.
Long Service LeaveSeveral estimations and assumptions used in calculating the Authority’s long service leave provision include expected future salary rates, discount rates, employee retention rates and expected future payments. Changes in these estimations and assumptions may impact on the carrying amount of the long service leave provision.
Note 5. Machinery of Government Arising from the machinery of government changes, employing powers under the Public Sector Management Act 1994 and budget appropriations are now in place with effect from 1 July 2013 for Perth Theatre Trust. Salary costs, superannuation, fringe benfits tax expenses which were previously appropriated to the Department of Culture and the Arts and treated as ‘Resources received free of charge’ are now being appropriated direct to the Perth Theatre Trust. This has the following impact:
(a) an increase in the ‘Appropriation received from State Government’ and a corresponding decrease in ‘Services provided by the Department of Culture and the Arts’. See note 18 ‘Income from State Government’.
(b) employee benefit provisions, such as annual leave, long service leave and employment on-costs, previously held by the Department of Culture and the Arts are transferred to the Perth Theatre Trust with effect from 1 July 2013. See note 30 ‘Provisions’.
(c) account balances, such as accrued salaries and leave liability accounts with Treasury WA, and leave and employment on-costs provisions previously held by the Department of Culture and the Arts are transferred to the Perth Theatre Trust with effect from 1 July 2013. See note 19 ‘ Restricted cash and cash equivalents’.
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Note 6. Disclosure of changes in accounting policy and estimatesInitial application of an Australian Accounting Standard
Perth Theatre Trust has applied the following Australian Accounting Standards effective for annual reporting periods beginning on or after 1 July 2013 that impacted on Perth Theatre Trust.
AASB 13 Fair Value MeasurementThis Standard defines fair value, sets out a framework for measuring fair value and requires disclosures about fair value measurements. Perth Theatre Trust has liaised with the Western Australia Land Information Authority (Valuation Services) to ensure that sufficient information will be provided to meet the disclosure requirements of this Standard. There is no financial impact.
AASB 119 Employee BenefitsThis Standard supersedes AASB 119 (October 2010), making changes to the recognition presentation and disclosure requirements.
Perth Theatre Trust assessed employee leave patterns to determine whether annual leave is a short-term or other long-term employee benefit. The resultant discounting of annual leave liabilities that were previously measured at the undiscounted amounts is not material.
AASB 1048 Interpretation of StandardsThis Standard supersedes AASB 1048 (June 2012), enabling references to the Interpretations in all other Standards to be updated by reissuing the service Standard. There is no financial impact.
AASB 2011-8 Amendments to Australian Accounting Standards arising from AASB 13 [AASB 1, 2, 3, 4, 5, 7, 9, 2009-11, 2010-7, 101, 102, 108, 110, 116, 117, 118, 119, 120, 121, 128, 131, 132, 133, 134, 136, 138, 139, 140, 141, 1004, 1023 & 1038 and Int 2, 4, 12, 13, 14, 17, 19, 131 & 132]This Standard replaces the existing definition and fair value guidance in other Australian Accounting Standards and Interpretations as the result of issuing AASB 13 in September 2011. There is no financial impact.
AASB 2011-10 Amendments to Australian Accounting Standards arising from AASB 119 (September 2011) [AASB 1, 8, 101, 124, 134, 1049 & 2011-8 and Int 14]This Standard makes amendments to other Australian Accounting Standards and Interpretations as a result of issuing AASB 119 in September 2011. The resultant discounting of annual leave liabilities that were previously measured at the undiscounted amounts is not material.
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AASB 2012-2 Amendments to Australian Accounting Standards – Disclosures – Offsetting Financial Assets and Financial Liabilities [AASB 7 & 132]This Standard amends the required disclosures in AASB 7 to include information that will enable users of an entity’s financial statements to evaluate the effect or potential effect of netting arrangements, including rights of set-off associated with the entity’s recognised financial assets and recognised financial liabilities, on the entity’s financial position. There is no financial impact.
AASB 2012-5 Amendments to Australian Accounting Standards arising from Annual Improvements 2009-11 Cycle [AASB1, 101, 116, 132 & 134 and Int 2]This Standard makes amendments to the Australian Accounting Standards and Interpretations as a consequence of the annual improvements process. There is no financial impact.
AASB 2012-6 Amendments to Australian Accounting Standards – Mandatory Effective Date of AASB 9 and Transition Disclosures [AASB 9, 2009-11, 2010-7, 2011-7 & 2011-8]This Standard amends the mandatory effective date of AASB 9 Financial Instruments to 1 January 2015 (instead of 1 January 2013). Further amendments are also made to numerous consequential amendments arising from AASB 9 that will now apply from 1 January 2015. There is no financial impact.
AASB 2012-9 Amendment to AASB 1048 arising from the Withdrawal of Australian Int 1039The withdrawal of Int 1039 Substantive Enactment of Major Tax Bills in Australia has no financial impact for the Authority during the reporting period and at balance date. Measurement of tax assets and liabilities continues to be measured in accordance with enacted or substantively enacted tax law pursuant to AASB 112.46-47
AASB 2012-10 Amendments to Australian Accounting Standards – Transition Guidance and Other Amendments [AASB 1, 5, 7, 8, 10, 11, 12, 13, 101, 102, 108, 112, 118, 119, 127, 128, 132, 133, 134, 137, 1023, 1038, 1039, 1049 & 2011-7 and Int 12]The Standard introduces a number of editorial alterations and amends the mandatory application date of Standards for not-for-profit entities accounting for interests in other entities. There is no financial impact.
AASB 2013-9 Amendments to Australian Accounting Standards – Conceptual Framework, Materiality and Financial Instruments.Part A of this omnibus Standard makes amendments to other Standards arising from revisions to the Australian Accounting Conceptual Framework for periods ending on or after 20 December 2013. Other Parts of this Standard become operative in later periods. There is no financial impact for Part A of the Standard.
Future impact of Australian Accounting Standards not yet operativePerth Theatre Trust cannot early adopt an Australian Accounting Standard unless specifically permitted by TI 1101 Application of Australian Accounting Standards and Other Pronouncements. Consequently, Perth Theatre Trust has not applied early any following Australian Accounting Standards that have been issued that may impact Perth Theatre Trust. Where applicable, Perth Theatre Trust plans to apply these Australian Accounting Standards from their application date.
Operative for reporting periods beginning on/after
Int 21 Levies 1 Jan 2014This Interpretation clarifies the circumstances under which a liability to pay a government levy imposed should be recognised. There is no financial impact for the Authority at reporting date.
AASB 9 Financial Instruments 1 Jan 2017
This Standard supersedes AASB 139 Financial Instruments: Recognition and Measurement, introducing a number of changes to accounting treatments.
The mandatory application date of this Standard was amended to 1 January 2017. The Authority has not yet determined the application or the potential impact of the Standard
AASB 10 Consolidated Financial Statements 1 Jan 2014This Standard, issued in August 2011, supersedes requirements under AASB 127 Consolidated and Separate Financial Statements and Int 112 Consolidation – Special Purpose Entities, introducing a number of changes to accounting treatments.
Mandatory application was deferred for not-for-profit entities by AASB 2012- 10 Amendments to Australian Accounting Standards – Transition Guidance and Other Amendments. The adoption of the new Standard has no financial impact for the Model Statutory Authority as it doesn’t impact accounting for related bodies and the Perth Theatre Trust has no interests in other entities.
AASB 11 Joint Arrangements 1 Jan 2014
This Standard, issued in August 2011, supersedes AASB 131 Interests in Joint Ventures, introducing new principles for determining the type of joint arrangement that exists, which are more aligned to the actual rights and obligations of the parties to the arrangement.
Mandatory application of the Standard was deferred by one year for not-for-profit entities by AASB 2012-10. There is no financial impact for the Model Statutory Authority as the new standard will continue to require proportional consolidation of the Department’s rights to assets and liabilities for the unincorporated joint operation.
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Operative for reporting periods beginning on/after
AASB 12 Disclosure of Interests in Other Entities 1 Jan 2014This Standard, issued in August 2011, supersedes disclosure requirements under AASB 127 Consolidated and Separate Financial Statements, AASB 128 Investments in Associates and Joint Ventures and AASB 131 Interests in Joint Ventures.
Mandatory application was deferred by one year for not-for-profit entities by AASB 2012- 10. There is no financial impact.
AASB 127 Separate Financial Statements 1 Jan 2014This Standard, issued in August 2011, supersedes AASB 127 Consolidated and Separate Financial Statements, removing the consolidation requirements of the earlier standard whilst retaining accounting and disclosure requirements for the preparation of separate financial statements. Mandatory application was deferred by one year for not-for-profit entities by AASB 2012-10. There is no financial impact.
AASB 128 Investments in Associates and Joint Ventures 1 Jan 2014This Standard supersedes AASB 128 Investments in Associates, introducing a number of changes to accounting treatments of changed ownership interest.
Mandatory application of this Standard was deferred by one year for not-for-profit entities by AASB 2012-10. The adoption of the new Standard has no financial impact for Perth Theatre Trust as it does not hold investments in associates and the accounting treatments for joint operations is consistent with current practice.
AASB 1031
Materiality 1 Jan 2014
This Standard is an interim standard cross-referencing definitions of ‘materiality’ in other Standards and will remain operative until references to AASB 1031 are removed from other Standards. There is no financial impact.
AASB 1055
Budgetary Reporting 1 Jan 2014
This Standard specifies the nature of budgetary disclosures, the circumstances in which they are to be included in the general purpose financial statements of not-for-profit entities within the GGS. Perth Theatre Trust will be required to disclose additional budgetary information and explanations of major variances between actual and budgeted amounts, though there is no financial impact.
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Operative for reporting periods beginning on/after
AASB 2009-11
Amendments to Australian Accounting Standards arising from AASB 9 [AASB 1, 3, 4, 5, 7, 101, 102, 108, 112, 118, 121, 127, 128, 131, 132, 136, 139, 1023 & 1038 and Int 10 & 12] [modified by AASB 2010-7]
1 Jan 2015
AASB 2010-7
Amendments to Australian Accounting Standards arising from AASB 9 (December 2010) [AASB 1, 3, 4, 5, 7, 101, 102, 108, 112, 118, 120, 121, 127, 128, 131, 132, 136, 137, 139, 1023 & 1038 and Int 2, 5, 10, 12, 19 & 127]
1 Jan 2015
This Standard makes consequential amendments to other Australian Accounting Standards and Interpretations as a result of issuing AASB 9 in December 2010. Perth Theatre Trust has not yet determined the application or the potential impact of the Standard.
AASB 2011-7
Amendments to Australian Accounting Standards arising from the Consolidation and Joint Arrangements Standards [AASB 1, 2, 3, 5, 7, 9, 2009-11, 101, 107, 112, 118, 121, 124, 132, 133, 136, 138, 139, 1023 & 1038 and Int 5, 9, 16 & 17]
1 Jan 2014
This Standard gives effect to consequential changes arising from the issuance of AASB 10, AASB 11, AASB 127 Separate Financial Statements and AASB 128 Investments in Associates and Joint Ventures. The Model Statutory Authority has undertaken an analysis of the suite of Consolidation and Joint Arrangements Standards and determined that there is no financial impact arising from adoption of the various Standards.
AASB 2012-3
Amendments to Australian Accounting Standards – Offsetting Financial Assets and Financial Liabilities [AASB 132] 1 Jan 2014
This Standard replaces the existing definition and fair value guidance in other Australian Accounting Standards and Interpretations as the result of issuing AASB 13 in September 2011. There is no financial impact.
Perth Theatre Trust does not routinely hold financial assets and financial liabilities that it intends to settle on a net basis, therefore there is no financial impact.
AASB 2013-3
Amendments to AASB 136 – Recoverable Amount Disclosures for Non-Financial Assets. 1 Jan 2014
This Standard introduces editorial and disclosure changes. There is no financial impact.
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Operative for reporting periods beginning on/after
AASB 2013-4
Amendments to Australian Accounting Standards – Novation of Derivatives and Continuation of Hedge Accounting [AASB 139]
1 Jan 2014
This Standard permits the continuation of hedge accounting in circumstances where a derivative, which has been designated as a hedging instrument, is novated from one counterparty to a central counterparty as a consequence of laws or regulations. The model Authority does not routinely enter into derivatives or hedges, therefore there is no financial impact.
AASB 2013-8
Amendments to Australian Accounting Standards – Australian Implementation Guidance for Not-for-Profit Entities – Control and Structured Entities [AASB 10, 12 & 1049].
1 Jan 2014
The amendments, issued in October 2013, provide significant guidance to clarify whether determine whether a not-for-profit entity controls another entity when financial returns aren’t a key attribute of the investor’s relationship. The Standard has no financial impact in its own right, rather the impact results from the adoption of the amended AASB 10.
AASB 2013-9
Amendments to Australian Accounting Standards – Conceptual Framework, Materiality and Financial Instruments. 1 Jan 2014
1 Jan 2017This omnibus Standard makes amendments to other Standards arising from the deletion of references to AASB 1031 in other Standards for periods beginning on or after 1 January 2014 (Part B), and, defers the application of AASB 9 to 1 January 2017 (Part C). The Authority has not yet determined the application or the potential impact of AASB 9, otherwise there is no financial impact for Part B.
AASB 2014-1
Amendments to Australian Accounting Standards 1 July 2014 1 Jan 2015 1 Jan 2016 1 Jan 2018
Perth Theatre Trust has not yet determined the application of the potential impact of the Standard.
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Note 7. Employee benefits expense
2014$000
2013$000
Wages and salaries (a) 11,536 11,331Superannuation - defined contribution plans (b) 93 171Superannuation - other schemes 913 770Long service leave (a) 147 278Annual leave (a) 593 789Other related expenses 876 837
14,158 14,176
(a) Includes the value of the fringe benefit to the employee plus the fringe benefit tax component, leave entitilements including superannuation contribution component.
(b) Defined contribution plans include West State, Gold State and GESB Super Schemes.
Employment on-costs such as workers compensation insurance are included at note 11 ‘Other Expenses’.
The employment on-costs liability is included at note 30 ‘Provisions’.
Note 8. Supplies and services2014$000
2013$000
Communications 361 401Consultants and contractors 316 91Consumables 247 234Advertising and promotion 191 234Management fees 739 718Programming 692 373Equipment purchases 163 262Insurance premiums 251 242Lease hire 316 257Legal fees 61 30Licences 2 90Maintenance 1,198 753Printing 14 10Bank and credit card charges 19 64Temporary staff 64 83Travel 79 98Entertainment 62 49Other 100 387
4,875 4,376
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Note 9. Depreciation and amortisation expense2014$000
2013$000
Depreciation Buildings 2,684 2,747Leasehold improvements 204 224Plant, equipment and vehicles 1,125 1,129Total depreciation 4,013 4,100
AmortisationIntangible assets 182 238Total amortisation 182 238Total depreciation and amortisation 4,195 4,338
Note 10. Accommodation expenses2014$000
2013$000
Repairs and maintenance 848 824Rent 46 325Electricity and gas 1,244 1,339Water 188 234Cleaning 186 222Security 234 188Other 241 610
2,987 3,742
Note 11. Other expenses 2014$000
2013$000
Sponsorship 23 85Employment on-costs 162 151Audit Fees 30 25Doubtful debts expense 0 0Other 106 20
321 281
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Note 12. User charges and fees
2014$000
2013$000
Venue hire and related charges 7,324 6,758BOCS ticketing fees (a) 7 1,407
7,331 8,165
(a) BOCS ticketing was decommissioned in September 2012.
Note 13. Trading profit
2014$000
2013$000
Sales 4,988 4,268Cost of Sales:
Opening inventory (110) (102)Purchases (1244) (1,109)
(1,354) (1,211)Closing inventory 124 110
Cost of Goods Sold (1,230) (1,101)Trading Profit 3,758 3,167
Note 14. Sponsorship
2014$000
2013$000
AEG Ogden (Perth) Pty Ltd sponsorship 415 400His Majesty Theatre Foundation sponsorship 0 45
415 445
Note 15. Interest revenue
2014$000
2013$000
Bank interest 112 142112 142
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Note 16. Other revenue
2014$000
2013$000
Grants and subsidies 400 330Commission 57 40Recoup of previous years expenditure 40 4Donations 1 94Other 1,242 905Reinstatement of Assets previously expensed 281 0Royalties 0 139
2,021 1,512
Note 17. Net gain/(loss) on disposal of non-current assets
2014$000
2013$000
Proceeds from disposal of non-current assets
Plant, equipment and vehicles 0 3
Costs of disposal of non-current assetsPlant, equipment and vehicles (140) (341)
Net gain/(loss) (140) (338)
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ce39
00
(vi)
Stat
e Th
eatr
e Eq
uipm
ent
115
22(v
ii) H
MT
ETC
Lig
htin
g C
onso
les
011
3(v
iii) H
MT
BOH
Com
mun
icat
ion
Syst
em0
6550
522
1
Serv
ices
rec
eive
d fr
ee o
f cha
rge
(c)
Det
erm
ined
on
the
basi
s of
the
follo
win
g am
ount
s pr
ovid
ed b
y D
epar
tmen
t of
Cul
ture
and
the
Arts
:(i)
Pa
yrol
l exp
endi
ture
(29)
2,81
2(ii
) O
pera
ting
expe
nditu
re0
0(ii
i) C
ompu
ter
equi
pmen
t1
0(iv
) St
ate
Solic
itors
Offi
ce25
4(2
)2,
816
Asse
ts tr
ansf
erre
d fr
om/(t
o) o
ther
Sta
te g
over
nmen
t age
ncie
s du
ring
the
perio
dAs
sets
ass
umed
/ (t
rans
ferr
ed)
640
Leav
e H
oldi
ng A
ccou
nt a
ssum
ed /
(tra
nsfe
rred
) (d)
570
27th
Pay
Hol
ding
Acc
ount
ass
umed
/ (t
rans
ferr
ed) (d
)84
0Le
ave
liabi
litie
s (a
ssum
ed) /
tran
sfer
red
(d)
(350
)0
(145
)0
Dep
artm
ent o
f Pre
mie
r an
d C
abin
et:
Gra
nt s
ubsi
dy fo
r th
e Ro
yal C
once
rtge
bouw
Orc
hest
ra25
00
15,1
0113
,614
(a) S
ervic
e ap
prop
riatio
ns fu
nd th
e ne
t cos
t of s
ervic
es d
elive
red.
App
ropr
iatio
n re
venu
e co
mpr
ises
a c
ash
com
pone
nt a
nd a
rece
ivabl
e (a
sset
).
The
rece
ivabl
e (h
oldi
ng a
ccou
nt) c
ompr
ises
the
budg
eted
dep
reci
atio
n ex
pens
e fo
r the
yea
r and
any
agr
eed
incr
ease
in le
ave
liabi
lity
durin
g th
e ye
ar.
(b) S
tate
gra
nts
and
subs
idie
s re
late
s to
cap
ital w
orks
and
mai
nten
ance
pro
ject
s fu
nded
by
the
Depa
rtmen
t of C
ultu
re a
nd th
e Ar
ts.
(c) A
sset
s or
ser
vices
rece
ived
free
of c
harg
e or
for n
omin
al c
ost a
re re
cogn
ised
as
reve
nue
at fa
ir va
lue
of th
e as
sets
and
/or s
ervic
es th
at c
an b
e re
liabl
y
m
easu
red
and
whi
ch w
ould
hav
e be
en p
urch
ased
if th
ey w
ere
not d
onat
ed. C
ontri
butio
ns o
f ass
ets
or s
ervic
es in
the
natu
re o
f con
tribu
tions
by
owne
rs
ar
e re
cogn
ised
dire
ct to
equ
ity.
(d) D
iscr
etio
nary
tran
sfer
s of
ass
ets
and
liabi
litie
s be
twee
n St
ate
Gove
rnm
ent a
genc
ies
are
repo
rted
unde
r Inc
ome
from
Sta
te G
over
nmen
t. Ac
crue
d sa
larie
s
and
leav
e lia
bilit
y ac
ount
s w
ith T
reas
ury
WA
as w
ell a
s th
e an
nual
leav
e, lo
ng s
ervic
e le
ave
and
on c
osts
pro
visio
ns h
ave
been
tran
sfer
red
from
Depa
rtmen
t of C
ultu
re a
nd th
e Ar
ts to
the
Perth
The
atre
Tru
st, A
lso
see
note
5 ‘M
achi
nery
of G
over
nmen
t’ an
d no
te 3
0 ‘P
rovis
ions
’.
81
Note 19. Restricted cash and cash equivalents
2014$000
2013$000
CurrentAEG Ogden (Perth) Pty Ltd Cash at Bank (a) 3,246 3,190Robert Finley Trust Account (a) 5 12
3,251 3,202Non CurrentAccrued salaries suspense account (b) 84 0
84 0
(a) The balance of Restricted cash comprises ticket sales held in trust pending the presentation of events and performances. It also includes His Majesty Theatre Foundation funds and the Robert Finley trust account.
(b) Funds held in the suspense account for the purpose of meeting the 27th pay in a financial year that occurs every 11th year.
Note 20. Inventories
2014$000
2013$000
CurrentInventories held for resale:
Liquor and consumable catering supplies 124 110124 110
82
Note 21. Receivables
2014$000
2013$000
Current Receivables 373 342Allowance for impairment of receivables 0 0GST receivable 101 95Total current 474 437
Reconciliation of changes in the allowance for impairment of receivables
Balance at start of year 0 24Doubtful debts expense recognised in the statement of comprehensive income
0 0
Amounts written off during the period 0 (24)Amounts recovered during the period 0 0Balance at end of year 0 0
Note 22. Amounts receivable for services
2014$000
2013$000
Non-current 21,559 17,47521,559 17,475
Note 23. Other assets
2014$000
2013$000
CurrentPrepayments 489 387Accrued income 333 323
822 710
83
Note 24. Property, plant and equipment
2014$000
2013$000
LandAt fair value (a) 23,900 24,200Accumulated impairment losses 0 0
23,900 24,200BuildingsAt fair value (a) 175,752 178,423At cost 0 0Accumulated depreciation (9) 0Accumulated impairment losses 0 0
175,743 178,423Works in progressAt cost 0 0
0 0Leasehold improvementsAt cost 5,146 5,364Accumulated depreciation (2,780) (2,679)Accumulated impairment losses 0 0
2,366 2,685Plant, equipment and vehiclesAt cost 15,305 11,748Accumulated depreciation (9,468) (5,441)Accumulated impairment losses (Note 25) 0 (296)
5,837 6,011Works of artAt cost 6 6Accumulated impairment losses 0 0
6 6207,852 211,325
(a) Land and buildings were revalued as at 1 July 2013 by the Western Australian Land Information Authority (Valuation Services). The valuations were performed during the year ended 30 June 2014 and recognised at 30 June 2014. In undertaking the revaluation, fair value was determined by reference to market values for land $23,900,000 (2013: $24,200,000) while buildings was determined on the basis of depreciated replacement cost.
His Majesty’s Theatre is a heritage listed building to which Perth Theatre Trust holds title. A caveat no. D267573 is also registered over the property. The State Theatre Centre was transferred from the Department of Culture and the Arts on 1 February 2011. The Albany Entertainment Centre was transferred from the Great Southern Development Commission on 1 July 2010.
84
Reconciliations of the carrying amounts of property, plant, equipment and vehicles at the beginning and end of the reporting period are set out in the table below.
Freehold Land $000
Buildings
$000
Works in progress
$000
Leasehold improv.
$000
Plant, equipment and vehicles
$000
Works of art
$000
Total
$0002014Carrying amount at start of year 24,200 178,423 0 2,685 6,011 6 211,325Reinstated assets previously expensed 0 4 0 0 250 0 254Additions 0 0 0 10 742 0 752Transfers 0 0 0 (3) (23) 0 (26)Other disposals 0 0 0 (122) (18) 0 (140)Revaluation increments / (decrements) (300) 0 0 0 0 0 (300)Depreciation 0 (2,684) 0 (204) (1,125) 0 (4,013)Carrying amount at end of year 23,900 175,743 0 2,366 5,837 6 207,852
2013Carrying amount at start of year 23,900 186,834 0 3,200 6,907 6 220,847 Additions 0 0 0 0 267 0 267 Adjustment from previous financial year 0 0 0 0 0 0 0 Transfers 0 (4) 0 0 (22) 0 (26)Other disposals 0 0 0 (291) (12) 0 (303)Revaluation increments / (decrements) 300 (5,660) 0 0 0 0 (5,360)Depreciation 0 (2,747) 0 (224) (1,129) 0 (4,100)Carrying amount at end of year 24,200 178,423 0 2,685 6,011 6 211,325
85
Note 25. Fair value measurementsAssets Measured at fair value:
Level 1
$000
Level 2
$000
Level 3
$000
Fair Value at end of period
$000
2014Land (Note 24) 0 0 23,900 23,900Buildings (Note 24) 0 0 175,743 175,743Carrying amount at end of year 0 0 199,643 199,643
There were no transfers between Levels 1, 2 or 3 during the period.
Fair value measurements using significant unobservable inputs (Level 3)
Land $000
Buildings $000
2014Fair Value at start of period 24,200 178,423Additions 0 4Revaluation increments/(decrements) recognised in Profit or LossRevaluation increments/(decrements) recognised in Other Comprehensive Income (300) 0Transfers (from/(to) Level 2)Disposals 0 0Depreciation Expense 0 (2,684)Fair Value at end of period 23,900 175,743
Total Gains or losses for the period included in profit or loss, under 'Other Gains' 0 0Change in unrealised gains or losses for the period included in profit or loss for assets held at the end of the reporting period 0 0
86
Valuation Processes
There were no changes in valuation techniques during the period.
Transfers in and out of a fair value level are recognised on the date of the event or change in circumstances that caused the transfer. Transfers are generally limited to assets newly classified as non-current assets held for sale as Treasurer’s instructions require valuations of land, buildings and infrastructure to be categorised within Level 3 where the valuations will utilise significant Level 3 inputs on a recurring basis.
Fair value for existing use specialised buildings and infrastructure assets is determined by reference to the cost of replacing the remaining future economic benefits embodied in the asset, i.e. the depreciated replacement cost. Depreciated replacement cost is the current replacement cost of an asset less accumulated depreciation calculated on the basis of such cost to reflect the already consumed or expired economic benefit, or obsolescence, and optimisation (where applicable) of the asset. Current replacement cost is generally determined by reference to the market observable replacement cost of a substitute asset of comparable utility and the gross project size specifications.
Fair value for restricted use land is based on market value, by either using market evidence of sales of comparable land that is unrestricted less restoration costs to return the site to a vacant and marketable condition (low restricted use land), or, comparison with market evidence for land with low level utility (high restricted use land).
Significant Level 3 inputs used by the Perth Theatre Trust are derived and evaluated as follows:
Historical cost per square metre floor area (m²)The costs of constructing specialised buildings with similar utility are extracted from financial records of the Perth Theatre Trust, then indexed by movement in CPI.
Consumed economic benefit/obsolescence of assetThese are estimated by the Western Australian Land Information Authority (Valuation Services).
Selection of land with restricted utilityFair value for restricted use land determined by comparison with market evidence for land with low level utility. Relevant comparators of land with low level utility are selected by Western Australian Land Information Authority (Valuation Services).
Information about significant unobservable inputs (Level 3) in fair value measurements
Description and fair value as at 30 June 2014
$000
Valuation Technique Unobservable inputs Range of unobservable inputs
(weighted average)
Relationship of unobservable inputs to
fair value
Land ($23,900)
Current useSelection of land with similar approximate utility
$2,131 - $5,069 per m2 (3,600 per m2)
Higher value of similar land increases estimated fair value.
Building ($175,743)
Depreciated replacement cost
Consumed economic benefit2.25% - 2.5% per year (2.33% per year)
Greater consumption benefit lowers the fair value.
Historical cost per cubic metre (m²)
$21,602 - $31,724 per m2
($26,663 per m2)Higher Historical cost increases the fair value
Reconciliations of the opening and closing balances are provided in Notes 24 and 25.
87
Basis of Valuation
In the absence of market-based evidence, due to the specialised nature of some non-financial assets, these assets are valued at Level 3 of the fair value hierarchy on an existing use basis. The existing use basis recognises that restrictions or limitations have been placed on their use and disposal when they are not determined to be surplus to requirements. These restrictions are imposed by virtue of the assets being held to deliver a specific community service and the Perth Theatre Trust’s enabling legislation.
Note 26. Intangible assets
2014$000
2013$000
Computer softwareAt cost 948 948 Accumulated amortisation (819) (597)Accumulated impairment losses (Note 27) 0 (40)
129 311
Reconciliations:Computer softwareCarrying amount at start of year 311 609 Additions 0 0 Transfers 0 (20)Disposals 0 (40)Amortisation expense (182) (238)Carrying amount at end of year 129 311
88
Note 27. Impairment of assetsThere were indications of impairment of property, plant and equipment and intangible assets at 30 June 2014.
Property, plant and equipment2014$000
2013$000
Leasehold improvementsAt cost 0 511Accumulated depreciation 0 (221)impairment loss recognised in the income statement 0 (290)Carrying amount at end of year 0 0
Intangible AssetComputer softwareAt cost 0 127Accumulated depreciation 0 (87)impairment loss recognised in the income statement 0 (40)Carrying amount at end of year 0 0
Perth Theatre Trust held no goodwill or intangible assets with an indefinite useful life during the reporting period. At the end of the reporting period there were no intangible assets not yet available for use.
All surplus assets at 30 June 2014 have been classified as assets held for sale or written-off.
Note 28. Payables
2014$000
2013$000
CurrentTrade payables 1,336 1,785
1,336 1,785
Note 29. Funds held in trust
2014$000
2013$000
Ogden AEG Bank Account 3,311 3,190Robert Finley Trust Account 5 12
3,316 3,202
89
Note 30. Provisions
2014$000
2013$000
CurrentEmployee benefits provision
Annual leave (a) 399 309Long service leave (b) 145 115
544 424Other provisions
Employment on-costs (c) 32 20576 444
Non currentEmployee benefits provision
Long service leave (b) 153 71153 71
Other provisionsEmployment on-costs (c) 25 13
178 84
(a) Annual leave liabilities have been classified as current as there is no unconditional right to defer settlement for at least 12 months after the end of the reporting period. Assessments indicate that actual settlement of the liabilities is expected to occur as follows:
2014$000
2013$000
Within 12 months of the end of the reporting period
399 309
More than 12 months after the reporting period
0 0
399 309
(b) Long service leave liabilities have been classified as current as there is no unconditional right to defer settlement for at least 12 months after the end of the reporting period. Assessments indicate that actual settlement of the liabilities is expected to occur as follows:
2014$000
2013$000
Within 12 months of the end of the reporting period
145 115
More than 12 months after the reporting period
153 71
298 186
(c) The settlement of annual and long service leave liabilities gives rise to the payment of employment on-costs including workers’ compensation insurance. The provision is the present value of expected future payments.
The associated expense is disclosed in note 11 ‘Other expenses’.
90
Movements in other provisionsMovements in each class of provisions during the financial year, other than employee benefits, are set out below.
2014$000
2013$000
Employment on-cost provisionCarrying amount at start of year 33 32Additional provisions recognised 47 20Payments/other sacrifices of economic benefits (27) (19)Carrying amount at end of year 53 33
Note 31. Other liabilities
2014$000
2013$000
CurrentAccrued expenses 487 1,153Income received in advance 194 0
681 1,153
91
Note 32. EquityThe Western Australian Government holds the equity interest in Perth Theatre Trust on behalf of the community. Equity represents the residual interest in the net assets of Perth Theatre Trust. The asset revaluation surplus represents that portion of equity resulting from the revaluation of non-current assets.
Contributed equity2014$000
2013$000
Balance at start of period 193,659 193,659
Transfer of net assets from other agenciesState Theatre Centre Equipment - Department of Culture and the Arts 0 0Total contributions by owners 0 0
Balance at end of period 193,659 193,659
Reserves2014$000
2013$000
Asset revaluation surplusBalance at start of period 12,250 17,610Net revaluation increments/(decrements):Land (300) 300Buildings 0 (5,660)Balance at end of period 11,950 12,250
Accumulated surplus2014$000
2013$000
Balance at start of period 22,533 22,739Result for the period 2,062 (206)Balance at end of period 24,595 22,533
Total equity at end of period 230,204 228,442
92
Note 33. Notes to the Statement of Cash FlowsReconciliation of cashCash at the end of the financial year as shown in the Statement of Cash Flows is reconciled to the related items in the Statement of Financial Position as follows:
2014$000
2013$000
Cash and cash equivalents 1,996 1,540Restricted cash and cash equivalents (note 19 'Restricted cash and cash equivalents') 3,335 3,202
5,331 4,742
Reconciliation of net cost of services to net cash flows provided by/(used in) operating activities
2014$000
2013$000
Net cost of services (13,039) (13,820)Non cash items:
Depreciation and amortisation expense (note 9) 4,195 4,338Doubtful debts expense (note 11) 0 0Services received free of charge (note 18) (2) 2,816Net loss on sale of property, plant and equipment (note 17) 140 338
(Increase)/decrease in assets:Current inventories (14) (8)Current receivables (a) (67) 246Other current assets (112) (253)
Increase/(decrease) in liabilities:Current payables (a) (434) (89)Funds held in trust 114 (1,993)Current provisions (124) 1Other current liabilities (472) 690Non current provisions 0 11
Net GST receipts/(payments) (b) (7) (72)Change in GST in receivables/payables (c) 0 (21)Net cash provided by/(used in) operating activities (9,822) (7,816)
(a) Note that the Australian Taxation Office (ATO) receivable/payable in respect of GST and receivable/payable in respect of sale/purchase of non-current assets are not included in these items as they do not form part of the reconciling items.
(b) This is the net GST paid/received, i.e. cash transactions.(c) This reverses out the GST in receivables and payables.
At the end of the reporting period, Perth Theatre Trust had fully drawn down on all financing facilities, details of which are disclosed in the financial statements.
93
Note 34. CommitmentsThe commitments below are inclusive of GST where relevant.
Non-cancellable operating Lease commitmentsCommitments in relation to leases contracted for at the end of the reporting period but not recognised in the financial statements, are payable as follows:
2014$000
2013$000
Within 1 year 9 25Later than 1 year and not later than 5 years 2 13
11 38
Note 35. Events occurring after the reporting dateNo events have occurred after balance date that would require disclosure or an adjustment to the financial statements as at 30 June 2014.
Note 36. Explanatory statementSignificant variations between estimates and actual results for 2014 and between the actual results for 2013 and 2014 are shown below. Significant variations are considered to be those greater than 10% or $100,000.Significant variances between estimated and actual result for 2014
2014Estimates
$000
2013Actual
$000
Variation
$000
Employee benefits expense 13,584 14,158 574Supplies and services 3,903 4,875 972Depreciation and amortisation expense 4,370 4,195 (175)Accommodation expenses 3,367 2,987 (380)Cost of Sales 985 1,230 245Loss on sale of non current assets 0 140 140Other expenses 487 321 (166)User charges and fees 6,208 7,331 1,123Sales 3,967 4,988 1,021Interest revenue 90 112 22Service appropriation 14,710 14,493 (217)State grants and subsidies 505 755 250Resources received free of charge 0 (2) (2)Assets assumed 0 (145) (145)
94
Employee benefits expense The higher than budgeted cost of Employee benefits expense is a result of the higher than budgeted revenue for 2013-14 which resulted in greater number of casual staff required to sustain the increased activity.
Supplies and services The higher than budgeted cost of supplies and services can be attributed to unexpected computer network costs outside the service contract and unplanned urgent and compliance repairs to plant and equipment.
Depreciation and amortisation expense The decrease is as a result of an overestimation of the depreciation expense for building
Accommodation expenses The variance can be attributed to overbudgeted charges for Water and Gas.
Cost of Sales
The higher than budgeted cost of sales can be attributed to a higher number of events taking place in 2013-14 than what was budgted for, which consequently resulted in an increase in sales and subsequent increase in cost of sales.
Loss on disposal of non-current assets This item was not budgeted for, all the assets disposed of in 2013-14 were scrapped .
Other expenses The increase in other expenses can be attributed to unbudgeted bad debts expenditure and higher workers compensation costs as a result of higher than budgeted wages for the year.
User charges and fees The large increase in user charges and fees is a result of a higher number of events that took place in 2013-14 than what was budgeted for.
Sales The large increase in sales is a result of a higher number of events that took place in 2013-14 than what was budgeted for.
Interest revenue This variance is a result of the greater interest earned on the new ticketing division bank account. When preparing the budget, there was insufficient history to forecast the interest revenue.
Service appropriation The actual service appropriation was lower than budget due to the Whole of Government corrective measures implemented in 2013-14
State grants and subsidies The increase can be attributed to a once off grant from the Department fo Premier & Cabinet that was not budgeted for.
Resources received free of charge The variance relates to legal services provided by the State Solicitors Office which were not budgeted for.
Assets assumed This variance is a result of the Machinery of Government Changes, which took effect on 1 July 2013, where employee benefit provisions such as annual leave, long service leave and employment on costs, previously held by the Department of Culture and the Arts are transferred to the PTT. In addition accrued salaries and leave liability holding accounts with Treasury are transferred to Perth Theatre Trust. These balances were not incorporated as assets assumed in the budget.
95
Significant variances between actual results for 2013 and 2014
2014$000
2013$000
Variation$000
IncomeUser charges and fees 7,331 8,165 (834)Sales 4,988 4,268 720Interest revenue 112 142 (30)Service appropriation 14,493 10,577 3,916State grants and subsidies 755 221 534Other revenue 2,021 1,512 509Services received free of charge (2) 2,816 (2,818)
ExpensesSupplies and services 4,875 4,376 499Accommodation expenses 2,987 3,742 (755)Cost of sales 1,230 1,101 129Loss on disposal of non-current assets 140 341 (201)Depreciation 4,195 4,338 (143)
User charges and fees The variance can be attributed to the decommissioning of BOCS ticketing in 2012-13.
Sales The increase in sales can be attributed to more events held in the 2013-14 and more attendees in comparison to 2012-13.
Interest Revenue The variance can be attributed to a decline in interest rates in 2013-14.
Service appropriation The increase in service appropriation can be attributed to the Machinery of Government Changes which took effect from 1 July 2013. The impact of these changes was that salary costs, superannuation and FBT expenses which were previously attributed to the Department of Culture & The Arts were now being appropriated direct to the Perth Theatre Trust.
State grants and subsidies The variance can be attributed to a once of grant received from the Department of Premier Cabinet.
Other revenue The variance can be attributed to ticketing rebates and commissions revenues at His Majestys Theatre and Perth Concert Hall. These two venues combined, in 2013-14, held 52 more events than in 2012-13. In addition, the increase can be explained by the reinstatement of assets in the 2014 year which were previously expensed.
Services received free of charge The reduction in service appropriation can be attributed to the Machinery of Government Changes which took effect from 1 July 2013. The impact of these changes was that salary costs, superannuation and FBT expenses which were previously attributed to the Department of Culture & The Arts and recorded as services received free of charge were now being appropriated direct to the Perth Theatre Trust.
Supplies and services The variance can be attributed to an increase in repairs to minor equipment as well as an overall increase in direct costs as a result of the increased activity at the venues.
Accommodation expenses The decrease in accomodation costs for the 2013-14 can be attributed to the decommissioning of BOCS ticketing in the 2012-13 financial year.
Cost of sales The increase in cost of sales is directly attributable to the increase in sales in the 2013-14 due to the increased activity.
Loss on disposal of non-current assets In the 2013-14 year, less assets were written off/disposed of in comparsion to the 2012-13. In the 2012-13 the assets which were written off relate to undepreciated BOCS ticketing assets.
Depreciation The decrease is mainly attributable to the reduction of the building values after the revaluation in 2012-13.
96
Note 37. Financial instruments(a) Financial risk management objectives and policies
Financial Instruments held by Perth Theatre Trust are cash and cash equivalents, restricted cash and cash equivalents, receivables and payables. Perth Theatre Trust has limited exposure to financial risks. Perth Theatre Trust’s overall risk management program focuses on managing the risks identified below.
Credit RiskCredit risk arises when there is the possibility of Perth Theatre Trust’s receivables defaulting on their contractual obligations resulting in financial loss to Perth Theatre Trust.
The maximum exposure to credit risk at the reporting period in relation to each class of recognised financial assets is the gross carrying amount of those assets inclusive of any allowance for impairment as shown in the table at note 37(c) ‘Financial instruments disclosures’ and note 21 ‘Receivables’.
Credit risk associated with Perth Theatre Trust’s financial assets is minimal because the main receivable is the amount receivable for services (holding account). For receivables other than government, Perth Theatre Trust trades only with recognised, creditworthy third parties. Perth Theatre Trust has policies in place to ensure that sales of products and services are made to customers with an appropriate credit history. In addition, receivable balances are monitored on an ongoing basis with the result that Perth Theatre Trust’s exposure to bad debts is minimal. At the end of the reporting period there are no significant concentrations of credit risk.
Liquidity RiskLiquidity risk arises when Perth Theatre Trust is unable to meet its financial obligations as they fall due.
Perth Theatre Trust is exposed to liquidity risk through its trading in the normal course of business.
Perth Theatre Trust has appropriate procedures to manage cash flows including drawdowns of appropriation by monitoring forecast cash flows to ensure that sufficient funds are available to meet its commitments.
Market RiskMarket risk is the risk that changes in market prices such as foreign exchange rates and interest rates will affect Perth Theatre Trust’s income or value of its holdings of financial instruments. Perth Theatre Trust does not trade in foreign currency and is not materially exposed to other price risks. Perth Theatre Trust does not have any exposure to market risk for changes in interest rates.
(b) Categories of financial instrumentsThe carrying amounts of each of the following categories of financial assets and financial liabilities at the end of the reporting period are as follows:
2014$000
2013$000
Financial AssetsCash and cash equivalents 1,996 1,540Restricted cash and cash equivalents 3,335 3,202Receivables (a) 22,265 18,140
Financial LiabilitiesFinancial liabilities measured at amortised cost 0 6
(a) The amount of receivables excludes GST recoverable from the ATO (statutory receivable).
97
(c) Financial instrument disclosures
Credit riskThe following table discloses Perth Theatre Trust’s maximum exposure to credit risk and the ageing analysis of financial assets. Perth Theatre Trust’s maximum exposure to credit risk at the end of the reporting period is the carrying amount of the financial assets as shown below. The table discloses the ageing of financial assets that are past due but not impaired and impaired financial assets. The table is based on information provided to senior management of the Perth Theatre Trust
Perth Theatre Trust does not hold any collateral as security or other credit enhancements relating to the financial assets it holds.
Ageing analysis of financial assets
Past due but not impaired
Carrying Amount
$000
Not past due and not
impaired $000
Up to 1 month
$000
1-3 months
$000
3 months
to 1 year $000
1-5 years
$000
More than
5 years $000
Impaired financial
assets $000
2014Cash and cash equivalents 1,996 1,996Restricted cash and cash equivalents 3,335 3,335Receivables (a) 706 0 19 0 23 0Amounts receivable for services 21,559 21,559
27,596 26,890 19 0 23 0 0 0
2013Cash and cash equivalents 1,540 1,540Restricted cash and cash equivalents 3,202 3,202Receivables (a) 665 526 59 26 44 10Amounts receivable for services 17,475 17,475
22,882 22,743 59 26 44 10 0 0
(a) The amount of receivables excludes GST recoverable from the ATO (statutory receivable).
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Liquidity risk and interest rate exposureThe following table details Perth Theatre Trust's interest rate exposure and contractual maturity analysis of financial assets and financial liabilities. The maturity analysis section includes interest and principal cash flows. The interest rate exposure section analyses only the carrying amounts of each item.Interest rate exposure and maturity analysis of financial assets and financial liabilities
Weighted Average
Effective Interest Rate
%
Carrying Amount
$000
Interest rate exposure Maturity datesFixed
interest rate
$000
Variable interest
rate $000
Non - interest bearing
$000
Nominal amount
$000
Up to 1 month
$000
1-3 months
$000
3 months
to 1 year $000
1-5 years
$000
More than 5 years $000
2014Financial AssetsCash and cash equivalents 2.81% 1,996 1,996 1,996 1,996Restricted cash and cash equivalents 2.81% 3,335 3,335 3,335 3,335Receivables (a) - 706 0 706 706 706Amounts receivable for services - 21,559 0 21,559 21,559 21,559
27,596 0 5,331 22,265 27,596 6,037 0 0 21,559 0
Financial LiabilitiesPayables - 2,017 2,017 2,017 2,017Funds held in trust - 3,316 3,316 3,316 3,316
5,333 0 0 5,333 5,333 5,333 0 0 0 0
2013Financial AssetsCash and cash equivalents 3.62% 1,540 1,540 1,540 1,540Restricted cash and cash equivalents 3.62% 3,202 3,202 3,202 3,202Receivables (a) - 665 0 665 665 665Amounts receivable for services - 17,475 0 17,475 17,475 17,475
22,882 0 4,742 18,140 22,882 5,407 0 0 17,475 0Financial LiabilitiesPayables 2,938 2,938 2,938 2,938Funds held in trust 3,202 3,202 3,202 3,202
- 6,140 0 0 6,140 6,140 6,140 0 0 0 0(a) The amount of receivables excludes the GST recoverable from the ATO (statutory receivable).
99
Interest rate sensitivity analysisThe following table represents a summary of the interest rate sensitivity of Perth Theatre Trust's financial assets and liabilities at the end of the reporting period on the surplus for the period and equity for a 1% change in interest rates. It is assumed that the change in interest rates is held constant throughout the reporting period.
-100 basis points +100 basis pointsCarrying Amount
$000Surplus
$000Equity
$000Surplus
$000Equity
$0002014Financial AssetsCash and cash equivalents 1,996 (20) (20) 20 20Restricted cash and cash equivalents 3,335 (33) (33) 33 33
(53) (53) 53 53
2013Financial AssetsCash and cash equivalents 1,540 (15) (15) 15 15Restricted cash and cash equivalents 3,202 (32) (32) 32 32
(47) (47) 47 47
Fair ValuesAll financial assets and liabilities recognised in the Statement of Financial Position, whether they are carried at cost or fair value, are recognised at amounts that represent a reasonable approximation of fair value unless otherwise stated in the applicable notes.
Note 38. Remuneration of trustees of Perth Theatre Trust and senior officersRemuneration of trustees of Perth Theatre TrustThe number of members of Perth Theatre Trust, whose total of fees, salaries, superannuation and non-monetary benefits and other benefits for the financial year, fall within the following bands are:
2014 2013$0 - 10,000 6 8
$000 $000Base remuneration and superannuationAnnual leave and long service leave accrualsOther benefitsThe total remuneration of trustees of Perth Theatre Trust 30 36
The total remuneration includes the superannuation expense incurred by Perth Theatre Trust in respect of trustees of Perth Theatre Trust.
Remuneration of senior officersThe number of senior officers, other than senior officers reported as trustees of Perth Theatre Trust, whose total of fees, salaries, superannuation, non-monetary benefits and other benefits for the financial year, fall within the following bands are:
2014 2013$200,001 - 210,000 0 1 210,000 - 220,000 0 0 230,000 - 240,000 0 0 240,000 - 250,000 1 0
$000 $000Base remuneration and superannuation 213 158Annual leave and long service leave accruals 31 22Other benefits 0 20The total remuneration of trustees of Perth Theatre Trust 244 200
The total remuneration includes the superannuation expense incurred by Perth Theatre Trust in respect of senior officers other than senior officers reported as trustees of Perth Theatre Trust.
100
Note 39. Remuneration of auditorRemuneration paid or payable to the Auditor General in respect of the audit for the current financial year is as follows:
2014 $000
2013 $000
Auditing the accounts, financial statements and key performance indicators 28 25
Note 40. Related bodiesAt the reporting date, Perth Theatre Trust had no related bodies as defined by Treasurer’s Instruction 951.
Note 41. Affiliated bodiesAt the reporting date, Perth Theatre Trust had no affiliated bodies as defined by Treasurer’s Instruction 951.
Note 42. Special purpose accountsSpecial Purpose Account - section 16(1)(c) of Financial Management Act 2006
Perth Theatre Trust Bookings AccountThe purpose of the account is to hold funds on behalf of promoters and other parties in relation to the staging of events and shows, pending due and proper performance of contractual obligations.
2014 $000
2013 $000
Balance at the start of the year 0 4,550Receipts 0 38,291Payments 0 (42,841)Balance at the end of the year 0 0
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102
Note 43. Supplementary financial information(a) Write-offs
2014 $000
2013 $000
Public property written-off by the Board of Trustees during the financial year 0 17
(b) Losses through theft, defaults and other causes
There were no losses of public moneys and public and other property through theft or default during the financial year.
(c) Gift of public property
There were no gifts of public property provided by Perth Theatre Trust
Note 44. Schedule of income and expenses by servicePerth Theatre Trust operates under one service called Venue Management Services.
Image credits:
Front cover - clockwise top left to right ▪ Independent Theatre Festival, ‘The Little Mermaid’. Photo by Libby Edwards. ▪ Perth Concert Hall interior. Photo by Stephen Nicholls. ▪ Perth Concert Hall interior. Photo by Stephen Nicholls. ▪ Royal Concertgebouw. Photo by Simon Van Boxtel. ▪ Mariss Jansons, Royal Concertgebouw. Photo by Anne Dokter. ▪ Australian Dance Theatre, ‘G’. Photo by Chris Herzfeld.
Inside and back cover ▪ Albany Entertainment Centre exterior. Photo by Geoff Bickford.
Document ▪ Contents - Australian Dance Theatre, ‘G’. Photo by Chris Herzfeld. ▪ Pages 2 and 3 - Royal Concertgebouw. Photo by Stephen Nicholls. ▪ Pages 6 and 7 - Albany Entertainment Centre exterior. Photo by Alison Paine. ▪ Pages 8 and 9 - Circus Oz, ‘From the Ground Up’. Photo by Robert Blackburn. ▪ Pages 10 and 11 - Cabaret Soiree, ‘Just a Little Something’. Photo by James Thomas. ▪ Page 13 - Albany Entertainment Centre interior. Photo by Geoff Bickford. ▪ Pages 14 and 15 - Independent Theatre Festival, ‘The Little Mermaid’. Photo by Libby Edwards. ▪ Page 19 - Perth Concert Hall exterior. Photo by Stephen Nicholls. ▪ Pages 21, 22, 23 - Perth Concert Hall interior. Photo by Stephen Nicholls. ▪ Pages 24, 25, 26 - His Majesty’s Theatre interior. Photo by Robert Garvey. ▪ Pages 27, 28, 29 - Subiaco Arts Centre interior. Photo by Frances Andrijich. ▪ Pages 30, 31,32,33 - State Theatre Centre of Western Australia interior. Photo by Eva Fernandez. ▪ Pages 34, 35, 36 - Albany Entertainment Centre exterior. Photo by Geoff Bickford. ▪ Page 37 - His Majesty’s Theatre exterior. Photo by Robert Garvey. ▪ Pages 38 and 39 - Bell Shakespeare, ‘Henry V’. Photo by Lisa Tomasetti. ▪ Pages 40 and 41 - Perth Concert Hall interior. Photo by Stephen Nicholls. ▪ Pages 44 and 45 - Australian Dance Theatre, ‘G’. Photo by Chris Herzfeld. ▪ Pages 46 and 47 - Albany Entertainment Centre interior. Photo by Geoff Bickford. ▪ Page 51 - Independent Theatre Festival, ‘Trampoline’. Photo by Mitchell Richards. ▪ Page 56 and 57 - Subiaco Arts Centre interior. Photo by Frances Andrijich.
Copies of this report are available in alternative formats upon request.